By Kizito CUDJOE
Electrochem Ghana Limited, the company behind the US$88 million salt production facility at Ada Songhor, is set to go public on the Ghana Stock Exchange (GSE) by mid-2025.
This move is expected to strengthen its role in the regional industrial sector.
The company, which is developing Africa’s largest salt industrial complex on a 41,000-acre site, has secured a GH₡300 million investment from the Minerals Income Investment Fund (MIIF). This investment aims to enhance Electrochem’s production capacity and global competitiveness.
The planned IPO is seen as a key step in attracting more investment and improving the company’s transparency and governance. Local investors will have the opportunity to invest in a growing sector of Ghana’s economy, especially as demand for industrial salt rises in industries like oil and gas, pharmaceuticals, and food processing.
Deputy Minister of Lands and Natural Resources, George Mireku Duker, reaffirmed the government’s support during a visit to the facility, emphasizing that this project aligns with Ghana’s broader industrialization goals.
He also highlighted the potential economic benefits, including job creation and increased foreign exchange earnings.
The Deputy Minister encouraged collaboration between Electrochem and local communities, suggesting the establishment of a trust fund to ensure that communities benefit directly from the project.
Furthermore, he praised the company’s corporate social responsibility efforts, including investments in women’s trade and community development projects.
The project is expected to contribute significantly to Ghana’s economy, with projections of up to US$2 billion in revenue by 2026 as the facility ramps up production under the African Continental Free Trade Area (AfCFTA) agreement.
Initially targeting one million metric tonnes of salt per year, production is expected to double by 2025, with a long-term goal of 15 million tonnes annually.
