T-bills: government interest cost for last 3 months hits ¢4.416bn 3
Tuesday 07 March 2023 Issue No.23
A NEW THINKING
AGM petroleum relinquish South Deep Water Tano block 2
Global Chamber of Business Leaders congratulates Nigeria President-elect Bola Tinubu 2
MIIF mulls investment in Ada Songhor Salt project The Minerals Income and Invest- veloping it to be the ment Fund (MIIF) has revealed largest in sub-Saharan plans to support the development Africa. Ultimately this of the salt industry in Ghana with investment seeks to the Ada Songhor Lagoon as utmost ensure that Ghana benefits from the priority. This followed a working tour by many uses of salt, esthe Board and Management of pecially as a core input MIIF and officials of the Ghana to support the indusStock Exchange. The Ada Salt pans trialization agenda of on the Songhor Lagoon have the the Government of potential to be the largest salt pro- Ghana”. ducing area in sub-Saharan Africa. The Ada Songhor pans The CEO of MIIF revealed to re- which sit on some porters that, “MIIF is far advanced 41,000 acres stradwith plans to invest in the Ada dling at least thirSonghor salt project towards de- ty-three (33) Ada Com-
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There is no locked-up pension balance to be collected– SSNIT
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munities is larger in acreage than Walvis Bay of Namibia which is about 16,700 acres and is the largest in sub-saharan Africa. According to officials of Electrochem Ghana Limited which is the Ghanaian company developing the salt pans, the Songhor has the potential to produce more than 5 million MT at capacity with an estimated 650,000 metric tons (mt) of industrial salt in 2023 and circa 1.5 million MT over the next five years with a 99.99% purity. MIIF’s Salt outlook and Investment MIIF has declared salt as a priority mineral in Ghana in line with its investment strategy of generating downstream to upstream value from every single mineral. According to Professor Douglas Boateng, the Board Chairman of MIIF, “the Fund is targeting investments across the