President Akufo-Addo has announced that an amount of GHC80 million has been released by the Ministry of Finance to support victims of the Akosombo Dam village last year.
He said, the amount is part of GHC220 million that was allocated for this purpose in the 2024 budget.
“I must, at this stage, reaffirm Government’s continued commitment to providing the support for victims of the recent, extensive flooding in downstream communities, in the Greater Accra, Eastern and Volta Regions, caused by the spillage of the Akosombo Dam last year – a necessary action which was taken to maintain the dam’s structural integrity.
As set out in the 2024 budget, Government has set aside two hundred and twenty million cedis (GH¢220 million), of which eighty million cedis (GH¢80 million) has already been released by the Ministry of Finance, to support the ongoing rehabilitation efforts for the affected communities,” President Akufo-Addo said while delivering the 67th independence anniversary speech on March 6.
The Independence Day ceremony was held in the Eastern Regional capital, Koforidua under the theme, “Our Democracy, our Pride.”
The President assured that “Government will stop at nothing to restore normalcy to the lives and livelihoods of all affected persons.”
It would be recalled that residents of the affected communities were displaced after water from the Akosombo and Kpong dams was spilled by the Volta River Authority. Homes were destroyed, livelihoods were disrupted, and businesses collapsed.
In another development, President Akufo-Addo has given indications of better days ahead for the country despite the prevailing economic challenges.
He said better days are ahead because there are two projects in the offing that will transform the economy.
“Fellow Ghanaians, I know that we have gone through difficult economic circumstances, but it is clear that we have overcome the worst, and we should be looking forward to better times. I wish to make reference in particular to two projects coming on stream that should make a great difference to the economic fortunes of the country,” he said.
According to President Akufo-Addo, the two projects involve bauxite and salt mining.
“I refer to the successful selection of strategic partners that will work with the Ghana Integrated Aluminium Development Corporation (GIADEC) to build a new alumina refinery, and develop mines at Nyinahin-Mpasaaso as three (3) of four (4) projects being executed under the Integrated Aluminium Industry (IAI) projects.
I have witnessed the signing of two (2) separate agreements in Accra recently, firstly, between GIADEC, a wholly-owned public entity, and Rocksure International, a wholly-owned private Ghanaian company, selected, after a rigorous process, as a strategic partner to develop a mine at Nyinahin-Mpassaso; and, secondly, between GIADEC and Mytilineos SA, a leading global industrial and energy company, which entails the development of a second mine at Nyinahin-Mpasaaso, and the establishment of a refinery. We are finally coming to the end of decades of exporting raw bauxite from the country.
We shall now refine bauxite, mined in Ghana, to produce alumina that will feed the VALCO smelter and the downstream aluminium industry, which is going to have a dramatic impact on Ghanaian industrialisation, when we produce parts for motor vehicles, air crafts, roofing sheets and home utensils. It has taken a long time for us to get to this stage, but we have taken the trouble to make sure that we get it right. As an indigene, it is my hope that, once litigation over the Atewa Forest Range, in Kyebi, is settled, we will be able to develop also the Kyebi bauxite mine and refinery, that will help deliver employment and high paying jobs for our people, and also ensure integration and value addition across the bauxite/aluminium value chain,”the President disclosed.
“The other major project that is coming on stream, which is bound to make a dramatic change to the economy, is the Ada Songhor Salt project, being spearheaded by Electrochem Salt Mine Ltd, led by the dynamic Ghanaian entrepreneur, Mr. Daniel McKorley, aka McDan. After many years of disputes, which prevented the exploitation of salt at the site, work has finally started and salt will be mined on a large commercial scale.
With its initial ability to produce some six hundred and fifty thousand metric tons (650,000 MT) of salt per annum, and expanding its productive capacity to one million metric tonnes this year, and to two million metric tonnes by 2027, at ninety-nine-point-nine-nine-percent (99.99%) purity, the Electrochem Salt Mine will be the biggest salt producing facility in Africa. These are figures that should spell a significant change in the economy, and cheer us up.
I am optimistic that, together with other initiatives of this Government, we are on the verge of a breakthrough in our economic fortunes,” President Akufo-Addo assured.
