While gold, cocoa, and oil have traditionally been the pillars of the nation’s economy, Prof Boateng emphasised that salt; a resource often overlooked, holds the promise to revolutionise Ghana’s economic landscape. It could drive industrialisation, generate sustainable jobs, and empower communities while creating high-value allied industries.

“Salt is not just a mineral. It is a foundation for transformation and an opportunity to industrialise our economy,” Prof Boateng remarked in a recent interview. “With strategic development, salt can create jobs for our youth, empower women, and position Ghana as a leader in the global chemical industry.”

He explained the critical role of salt in producing essential chemicals such as chlorine, caustic soda, and soda ash, which are vital for industries like pharmaceuticals, plastics, detergents, and agriculture. With Ghana’s abundant reserves and strategic location, salt offers a unique chance to diversify the economy, reduce reliance on volatile commodities, and secure long-term growth.

“Salt is not just about extraction. It’s about unlocking its potential through value addition,” he added. “Processing salt into high-value products can provide opportunities for skilled workers, unskilled laborers, and entire communities. From chemical engineers to local entrepreneurs, the ripple effects are immense.”

Prof Boateng underscored the benefits for women and youth, who often face barriers to inclusion in traditional industries.

“Imagine women leading salt-processing enterprises or young people gaining stable employment in industries powered by our salt reserves. With the right leadership, investment, and governance, this vision can become a reality,” he stated.

MIIF’s investment in Electrochem Ghana Ltd. has already laid the groundwork for this transformative industry.

However, Prof Boateng stressed that further investments are essential.

“This is a national opportunity. The question is whether we will take ownership of our resources or allow external interests to dominate. To secure long-term dividends for future generations, we must act decisively,” he cautioned.

Drawing on global examples, he pointed to India’s thriving chemical industry, built on the strategic use of its salt reserves.

“India transformed its salt into billions of dollars in export revenue while creating millions of jobs. Ghana has the potential to do even more by leveraging our natural advantages and investing in innovation and infrastructure.”

Discussing MIIF’s strategy, he explained, “The Fund is focusing on salt production areas, including the Central Region, to expand Ghana’s capacity. With coordinated governance and investment, this industry could add tens of billions of dollars to the economy by 2040, while serving as a catalyst for industrialisation and value creation.”

Prof Boateng outlined the steps needed for success. These include building processing  plants, improving transportation networks, and creating storage facilities.

Training programmes must equip Ghanaians with the skills to work in salt extraction and value-added industries. Empowering women and youth to lead these enterprises is critical. Attracting capital and expertise through public-private partnerships is also essential, alongside policies that ensure sustainable growth.