Chevy Chase, MD (PRWEB) June 25, 2012
A&B Salt Marketing Ghana, LTD has announced plans to expand and modernize Ghana’s salt mining industry. A&B Salt has engaged Praxis Asset Management to assist with capital sourcing, installation of salt processing technology and act in an advisory capacity to senior management. A&B Salt will build the salt processing factory on their ten-acre parcel of land at Sege Dangme in Accra near the Songor Salt Project. The Songor Salt Project is a lagoon where thousands of tons of salt are deposited daily via Atlantic ocean sea tides. A&B Salt intends to process the harvested raw salt, wash, package and export it to the domestic African markets and industrial international markets.
Praxis has tapped into a network of interested private developers and investors who view this project as consistent with the emphasis Ghana has placed on fostering growth, innovation, economic diversification and increasing global exports. Natural resources in Africa are in abundance, and the consumer indications for salt point to consistent growth over the next five to ten years. Key drivers for this growth include expanded industrialization in emerging African markets, and the application of modern technologies requiring the chemical application of salt in mining, oil and gas production.
Ghana recently measured annual salt production potential at approximately 2.3 million tonnes. Industry leaders have stated the importance of encouraging Ghana’s salt export business as economically sound for the West African region as a whole. “The opportunity to directly impact our domestic and regional economy cannot be understated”, said Dr. Samuel Akuoku, Chairman of A&B Salt. “Industrial processing of Africa’s commodities and raw materials is the key to global competition and true, lasting economic independence”.
Praxis Asset Management believes that technology and direct investment into the private sectors of African countries is a powerful tool for leverage and success. “There is so much potential in this new opportunity”, Viola Llewellyn, Director of Marketing & Communications announced at the engagement signing. “We feel honoured and excited that A&B Salt chose to work with Praxis. The Songor Salt Project is in the infancy of it’s natural potential. The geographic location of the lagoon embodies the best possible conditions for salt mining: a renewable resource of raw material from the sea, a climate and temperature which maximizes solar evaporation, lagoon operators who have an existing relationship of trust with A&B Salt, and the recent discovery of large oil reserves not just in Ghana but in other neighbouring countries”.
About A & B Salt Marketing Ghana, LTD.
A & B Salt Marketing Ghana, LTD (ABSMG), founded in 2009, is a salt processing and marketing company registered under the laws of the Republic of Ghana. The corporate mission is to process and market high quality salt for the industrial and domestic markets of Ghana and the international markets including Continental African.
About Praxis Asset Management, LLC
Praxis Asset Management, LLC is a U.S. global alternative investment firm based in Washington DC founded in 2009. The firm originates structures, and acts as lead equity investor across buyout, mezzanine and growth capital opportunities. Praxis focuses on niche categories within fast growing emerging, frontier markets of Africa and the domestic market of the United States.
For more information go to http://www.praxisam.com.