African Business

Electrochem Ghana Limited prepares to list on Ghana Stock Exchange

43views

Electrochem Ghana Limited, an indigenous salt mining firm and subsidiary of the McDan Group of Companies, is gearing up to list its shares on the Ghana Stock Exchange (GSE) in the coming months.

This strategic move aims to attract potential investors and expand the company’s growth opportunities.

During an industrial tour organized by the Association of Ghana Industries (AGI), CEO Abdul Razak Adam emphasized the company’s commitment to the upcoming listing and urged interested investors to prepare for the opportunity.

“If you talk about high-quality salt, it is right here in Ghana and nowhere else because the potential is there. The giant step has already started. This is locally owned,” Adam stated.

He added, “This is locally managed. So, this is probably the largest single investment company owned by a Ghanaian. This company will be listed in three months right here in Ghana. What that implies is that every Ghanaian can buy shares and own a piece of the company.”

Adam highlighted the versatile uses of salt, including in the production of caustic soda and POP designs, noting that local production could support the construction industry by reducing imports. “We are shooting for September or October for the company to be listed,” he added.

The CEO also disclosed that Electrochem Ghana Limited has received significant support from the Ada community, overcoming initial resistance from locals in Ada, where the company’s large salt mining operation is located.

“In an industry like this, there will be a few people who won’t like it, but it doesn’t matter. If nobody is against you at all, that means you are not doing anything great. We have achieved over 95% community acceptance because we have come in and improved the lives of the people, not only generating employment for them. We’ve employed up to 5,000 people. Next year, we have a potential capacity of employing up to 10,000,” he hinted.

Adam also mentioned that the company would continue to provide community pans for the locals as a replacement for their traditional salt mining methods.

Additionally, Tsonam Akpeloo, the Greater Accra Regional Chairman of AGI, encouraged members and other business owners to build networks and consider investing in the supply chain of salt mining.

Leave a Response