President Akufo-Addo has announced a significant financial allocation to support victims of the Akosombo Dam village following last year’s flooding.
The Ministry of Finance has released GHC80 million, part of the GHC220 million allocated in the 2024 budget, to aid in the rehabilitation efforts for affected communities.
This announcement came during the President’s speech commemorating Ghana’s 67th Independence Day on March 6, held in Koforidua under the theme “Our Democracy, Our Pride.”
The President emphasized the government’s commitment to restoring normalcy to the lives and livelihoods of all affected persons. Last year’s flooding, caused by the spillage of water from the Akosombo and Kpong dams by the Volta River Authority, resulted in displacement, destruction of homes, disruption of livelihoods, and collapse of businesses in downstream communities in the Greater Accra, Eastern, and Volta Regions.
Despite prevailing economic challenges, President Akufo-Addo expressed optimism about better days ahead for Ghana. He highlighted two transformative projects in the bauxite and salt mining sectors that are expected to significantly impact the country’s economic fortunes.
The first project involves the selection of strategic partners to work with the Ghana Integrated Aluminium Development Corporation (GIADEC) to build a new alumina refinery and develop mines at Nyinahin-Mpasaaso. This initiative aims to refine bauxite mined in Ghana to produce alumina, which will feed the VALCO smelter and downstream aluminum industry, thus contributing to Ghanaian industrialization.
The second project, the Ada Songhor Salt project spearheaded by Electrochem Salt Mine Ltd, is set to become the largest salt-producing facility in Africa. With an initial production capacity of 650,000 metric tons per annum, expanding to two million metric tonnes by 2027, this project is expected to have a significant impact on Ghana’s economy.
President Akufo-Addo expressed confidence that these initiatives, along with other government efforts, will lead to a breakthrough in Ghana’s economic fortunes, bringing hope and prosperity to the nation.
