Security threats loom over Electrochem’s operations, CEO calls for urgent govt intervention
The Chief Executive Officer of Electrochem Ghana Limited, Mr. Abdul Razak Adam, has made a pressing appeal to government for enhanced security measures to safeguard the company’s staff and investments at the salt mine in Ada.
The call comes amidst growing security concerns and threats from thugs allegedly hired by individuals who previously monopolized the salt trade.
According to Mr. Adam, the individuals have been taking advantage of women in the community, securing loans and funds from international agencies under the guise of interventionist work in the salt value chain.
Electrochem’s efforts to regularize the trade and ensure benefits for all have been met with resistance from these individuals, who are now targeting the company’s workers.
Electrochem is working closely with national security and the police to protect the salt mine, which Mr. Adam describes as a “national asset.” The company is set to be listed on the stock market soon, allowing all Ghanaians to participate and benefit from its success. Additionally, the Mineral Income Investment Fund (MIIF) has a stake in the company, making it a vital investment for the people of Ghana.
The CEO’s appeal for increased protection comes as a matter of urgency to ensure the safety of Electrochem’s staff and the security of this critical national asset.
Mr Adam described the salt mining project as an individual’s biggest investment that had the potential to surpass “Ghana’s earnings from cocoa, gold, timber or what have you, this project has the potential to do that.”
He disclosed that over $120 million had already gone into the project and “more would go in as we expand to the east. So now you have a potential to have between two to four million metric tons of salt to be produced in the country. So assuming we achieve the maximum, you are looking at $800 million in annual revenue.”
