Member of Parliament for Yendi, Alhaji Farouk Aliu Mahama has given the assurance that he as board Chairman of the Ghana Integrated Iron and Steel Development Corporation (GIISDEC), and his team would work diligently to build a robust iron and steel industry for the country.
He guaranteed that the board would work to ensure the country’s iron and steel industry reached its potential.
“Ghana’s estimated 6.4 billion iron ore reserves are commercially valued at GH¢1.3 trillion and this resource, if properly tapped, will be a major foreign exchange earner for the country,” he said.
At a swearing in ceremony in Accra, Alhaji Farouk Mahama indicated that the board would implement a strategic business plan to attract the needed investment into the iron and steel industry.
The Minister of Lands and Natural Resources, Mr Samuel Abu Jinapor, charged the board to implement policies and strategies that will help build a robust iron and steel industry.
The minister said GIISDEC was an “extremely important corporation” that would serve as an anchor for most of the government’s industrialization initiatives.
“It is common knowledge that all developed countries did so on the back of iron and steel, and we cannot industrialize if we do not have an efficient iron and steel industry that is fit for purpose”.
“In Ghana today, we have an automobile industry, but it only does assembling of parts. If we have to build a robust automobile industry that will see us build our own cars, it means that GIISDEC must succeed,” he said.
Chaired by the Yendi MP, the board has three other members appointed by the President, they are Ms Hanifa Yahaya, Messrs Kay F. Amoah and Ernest Kusi.
The others are deputy ministers of the Lands and Natural Resources Ministry, Mr George Mireku Duker; Trade and Industry Ministry, Mr Michael Okyere Baafi; the Chief Executive Officers (CEOs) of the Minerals Commission, Mr Martin Kwaku Ayisi, and GIISDEC, Mr Kwabena Bonsu Fordwor.
A representative is expected to come from the Ministry of Finance to complete the nine-member board.