Apraku visits salt industries at Prampram

Industrialists and exporters have been urged to take advantage of the government's policies to promote and expand their businesses, Dr Kofi Konadu Apraku, Minister of Trade and Industry said on Friday.

He asked them to apply for the Export Development and Investment Fund (EDIF) to increase their capital to expand their businesses to make the nation's export drive a success. "Government will support any domestic activity to add value, process and export," Dr Apraku said in discussions with managers of Savannah Salt Company Limited and El-din Salt Mill Limited at Prampram on Friday.

The Company, which uses the solar evaporation method to produce salt, recently accessed 150,000 dollars from the EDIF for its operations. Production would start in September with an output 2,200 tonnes increasing to 30,000 tonnes in 2004 for the ECOWAS sub-region, which would bring in revenue of 132,000 dollars in 2002 and 1.7 million dollars in 2004.

EDIF was established to support the export sector to ensure increased revenue, Dr Apraku said, adding that, "the banks have been slow in approving loans to the fund". "As much as the banks have to be meticulous in their approach, they should assist to make the process a success," he said.

The Minister praised National Investment Bank (NIB) for approving the largest loan to the fund. Entrepreneurs and industrialists from the three northern regions especially, should apply since the fund was administered equitably with a fair regional balance, he said.

Mr Wilkings Abbey, Managing Director and other officials took Dr Apraku round the facilities of El-din Salt Limited. Mr Abbey commended the Minister for the visit saying, "This is the first time a high ranking government official has visited our site" and appealed to the government for support.

Mr Daniel Gyimah, Managing Director of National Investment Bank (NIB) and Mr Kwabena Nkrumah, Director of Credits and Projects of the EDIF accompanied Dr Apraku.