Ghana to develop aluminium industry to offer more value – Finance Minister

The Finance Minister, Ken Ofori-Atta, says the Akufo-Addo –led administration is bent on moving away from exporting the country’s resources in their raw forms.

Speaking ahead of the UK-Ghana Investment Summit scheduled in Accra from October 15-16, the Minister said, adding value to resources before export is the way forward and Ghana is looking to explore the many opportunities Brexit offers to export products to the UK.

“We are looking to develop our aluminium industry and the statistics are quite stunning because bauxite in its raw form is about $40 a tonne, you move to alumina and it becomes US$400 a tonne, you move to aluminium and it is about US$2100 a tonne, you move to tertiary and it is about $6,000 a tonne.

“So the new Ghana is adding value to our resources before exporting so we are now going to create this powerful channel of being able to export products to the UK and in there will be the type of equity and fairness that we need for world trade,” he added.

Mr Ofori-Ata also spoke on Ghana’s financial sector and the strides government is making to clean it up after recent crisis led to the collapse of about seven banks.

Source: Joy Online

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