Salt Industry Makes Headway

The Elmina Salt Industry (ESI), a local Ghanaian salt mining company in the Komenda-Edina-Eguafo-Abrem (KEEA) Municipality of the Central region has improved its exports to neighbouring countries. ESI dissociated itself from Palmbross Salt Company (PSC) in August 1983 since leaders of Elmina wanted to manage the company for the betterment of the people in the area. Addressing stakeholders of ESI at the Edina Omanhene�s Palace as part of the company�s 7th Annual General Meeting (AGM), the Vice Board Chairman of ESI, Nana Kodwo Eduakwa V disclosed that when he became chairman in 2004, a total debt of GH�150,000,000 loan which was contracted by the previous board with an accumulated interest of GH�93,567,253.56 had been paid with the company not owing anybody. He added that payment of six retired employees which amounted to GH�37,445.00 as end of their service benefit has also been paid. Nana Eduakwa noted that irrespective of the climatic conditions that salt producers have faced over the years ESI from January 2004 increased its production of 22,093 maxi bags to 35,595 maxi bags in December 2009 and recorded a decline of 29,940 as at December 2010. He attributed the fall in production levels in 2010 to the axle load policy initiated by francophone countries, especially Burkina Faso and Niger which he said was their main market. According to him, the governing board of ESI had to adjust the price of salt to encourage local sales which moved them up from GH�79,383.40 in 2004 to GH�210,631.93 in 2010. In order to boost salt production, Nana Eduakwa hinted that a CP 15 iodine sprayer has been purchased while the World Food Programme has also donated an iodized machine worth USD 30,000 to ESI. He therefore appealed to residents of Elmina and workers in the salt industry not to accused the Paramount Chief of Elmina, Nana Kodwo Conduah IV and members of the board of misappropriating the profit of ESI, adding that the Edina Traditional Council obtains only GH�10 pesewa on every sack which is used to run the affairs of the council. Nana Eduakwa however charged the workers to work hard to boost the image of the industry, a situation he said will help the company earn more profit. The Paramount Chief of Edina Traditional Council, Nana Kodwo Conduah IV however thanked the board for the great work. A new committee was formed to steer the affairs of the industry which included traditional chiefs and other opinion leaders in the area. The executives elected Nana Kodwo Eduakwa V and Ebow A. Folson as the new Board Chairman and Vice Chairman respectively while Supi Acheampong, Nana Afedu Annan, Supi Gyaapia and Nana Ato were selected to occupy executive positions to support the chairman in all his endeavours. Nana Conduah therefore charged them to emulate what their predecessors did to project the image of the industry.