Akufo-Addo wants vibrant Ghana aluminium industry president Akufo-addo President Nana Akufo-Addo has charged the Board of Directors of the n
Akufo-Addo wants vibrant Ghana aluminium industry
President Nana Akufo-Addo has charged the Board of Directors of the newly-instituted Ghana Integrated Aluminium Development Corporation (GIADEC), to ensure that a vibrant aluminium industry is established in the country.
Addressing the Board of Directors of the Ghana Integrated Aluminum Development Corporation at the Jubilee House after administering the Official Oath and the Oath of Secrecy to them at their swearing-in ceremony, President Akufo-Addo said, “Aluminium is often described as the metal of the future. If that is the case, we have its raw material that is bauxite in abundance in Ghana. The time has come to make a concerted effort not only to bring the raw materials into play but to establish the full value chain of the product so we can have a vibrant aluminium industry in Ghana.”
Syno Hydro Deal
The President further noted that the obligations of Ghana under the $2 billion dollar Sino Hydro deal require that: “We supply them with aluminium products as payment in return for $2 billion dollars worth of projects.”
“With the Ghana Integrated Aluminium Development Corporation headed by the astute solid Ghanaian professionals with reputable international credentials and a Board composed of some diverse, experienced and well-grounded personalities, I am confident that the Corporation will enjoy the benefits of your considerable abilities in the discharge of its duties in helping realise the objectives of the Corporation,” President Akufo Addo said.
Tracing the History
The journey to create an aluminium industry in Ghana, President Akufo Addo recapped, “began in 1948, through the establishment of the VALCO Aluminum Company. Kaiser Aluminium made an investment together with the government of our first President Dr Kwame Nkrumah in 1961, resulting in the building of the Akosombo Dam.”
President Akufo-Addo observed that: “It was intended that Kaiser, subsequent to the construction of the Dam, will exploit the country’s bauxite resources to serve as feedstock for smelters at VALCO. Unfortunately, this never happened. To this end, we cannot, in the modern era, stumble twice on our journey of giving value to our significant natural resources of bauxite and thereby accelerating our industrial development and transformation.” He indicated that much of the future success of the nation is bound up with your work. “I am aware that the task ahead of you is a challenging one, and it is my expectation and hope that you will be up to it”.
Chairman of the Board of Directors, Dr Oteng Gyasi, in his response on behalf of the members of the Board said they are aware of the industrialization intentions of the President and the place of Aluminum in the programme of the President.
“It is not for us to make promises, it for our work to speak for itself. We will do our utmost best to realise the dream, vision and mandate you have given us”, Dr Gyasi said.
Formation of the GIAC
President Akufo-Addo on 30 August 2018, assented to the Ghana Integrated Aluminum Corporation Act, 2018, marking the final stage of the legislation. With the act in place, the Ghana Integrated Aluminum Development Corporation is expected to promote and develop an integrated aluminium industry as well as provide for related matters. Following the intention of the government to set up an integrated bauxite and aluminium industry in Ghana, a bill was forwarded to Parliament to consider the establishment of an Integrated Bauxite and Aluminum Corporation which will set the legal framework for the regulation of the industry. The coming into being of the Act meant that the government realised the need to take an opportunity of the vast bauxite resources available to help in economic development of the country.
Members of the Board
The Board of Directors is chaired by Dr Oteng Gyasi. Mr Michael Ansah, Chief Executive Officer of the Ghana Integrated Aluminum Corporation is also a member of the Board. Mr Addae Antwi-Bosiako, representative of the Minerals Commission; Mr Humphrey Ayim Darke, Representative of the Association of Ghana Industries; Dr Henry Benyah, Dr Benjamin Ofosu Addo, representatives of the Integrated Aluminium Industry; Hon. Patrick Bogyako-Siaime, Member of Parliament for Amenfi East, Hon. Benito Owusu Bio, Representatives of Ministry of Land/ Natural Resources; Mrs Abena Osei Asare, representative of the Ministry of Finance, Nana Dokuaa Oky and Nana Amampene Boateng Twum Il, are members of the Board.