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Wednesday, June 19, 2024

Electrochem Ghana to list on Ghana Stock Exchange –

Indigenous salt mining firm Electrochem Ghana Limited, a subsidiary of McDan Group of Companies, is set to expedite the listing of its shares on the Ghana Stock Exchange (GSE) in the coming months.

This move is aimed at attracting potential investors to expand the company’s opportunities.

During an industrial tour organised by the Association of Ghana Industries (AGI), the CEO of Electrochem Ghana, Abdul Razak Adam, highlighted the company’s commitment to the upcoming listing and encouraged interested investors to anticipate it eagerly.

“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.”

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

He mentioned the uses of salt, including the production of caustic soda, and POP designs adding that “currently, Ghana imports POP and that [the production of salt in Ghana] will help in our construction industry.”

“We are shooting for September, or October, for the company to be listed,” he added.

Additionally, the CEO of Electrochem Ghana Limited disclosed that the company has received significant endorsement from the Ada community, overcoming initial resistance from locals in Ada, where its large salt mining operation is located.

“In an industry like this, there will be a few people who won’t like this, but it doesn’t matter. If nobody is against you at all, that means you are not doing anything great. So that base said, we have achieved over 95% community acceptance because we have come in.”

“We have improved the lives of the people not only generating employment for them. The facilities you see around you. We’ve employed up to 5000. Next year, we have a potential capacity of employing up to 10,000,” he hinted.

He disclosed that the company will continue to provide community pans for the indigenes as a replacement for their traditional method of mining salt.

On the other hand, the Greater Accra Regional Chairman of AGI, Tsonam Akpeloo, urged its members and other business owners to consider building networks and taking an interest in investing in the supply chain of salt mining.

Source: Electrochem Ghana

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