Investment : Mfantseman Municipal

Published on 2015-08-19

Investment - Mica Ore

Farming and fishing are the main economic activities in the municipality, employing about three-quarters of the total workforce. Fishing is particularly important among the coastal communities and the presence of huge shoals of fish makes this activity highly rewarding.In the inland areas, farming is the main activity.

Among the crops cultivated are cocoa, oil palm, pineapples, oranges, plantain and cocoyam. The main food crops grown are cassava, maize, vegetables, plantains, cocoyam and beans.

The major cash crops, which can be exported or sold domestically at high profit margins include coffee and cocoa, grown at Dominase and Kyeakor, oil palm at Akobima, pineapples in the Ekumfi area, citrus at Essakyir and Ekuafo and coconuts at Saltpond and Essakyir.

Perhaps the best potential lies in the vast mineral resources within the municipality.

The exploitation of kaolin for building and ceramic materials like talc, granite and silica gave rise to the building of the now defunct Saltpond Ceramic Factory, currently known as Ghana Ceramics Company.

The economics of this company remain viable, if managed by private investors who can infuse managerial and technical efficiency into its operations. Importantly, oil exploitation is taking place off the coast of Saltpond and initial findings are encouraging. The types of minerals found in the municiaplity and their uses are set out below.

MICA – An essential source of raw material for Electricals, paints, paper, plastic and various other industries is known to occur in association with pegmatite.

Large quantities of possible commercial grade are known to exist at Akorbanzi and Anomabu. FELDSPAR – This is a mineral used in ceramics for the making of pottery.

It is used as enamel for household utensils, tiles, porcelain, sanitary ware and minor ceramic uses.It is also important in glass manufacture, in scouring soaps, abrasives and in the making of false teeth.Good quality feldspar is known to exist at Abonko, Amoada, Saltpond, Otsir and Akorbadzre.

BERYLLIUM – This is a light metal, which imparts high strength and fatigue resistance to alloys such as cobalt, nickel, and aluminum, iron and copper. The ore of beryllium is the mineral beryl.

Economic beryl prospects have been discovered at Anomabu, Saltpond (581,000 tons), Abandze (14,000), Amoanda (210,000 tons), Awuaya (17,000 tons), Otsir and along the Mankessim-Dominase road.

COLUMBITE – TANTALITE – This is widely used in vacuum tubes because of its great affinity for gases and in steel alloys because of its resistance to corrosion and its high tensile strength. It has been found in lateritic gravel in the vicinity of the Saltpond bypass.

TIN – The ore of tin is cassiterites.This is chiefly used in the plating of food containers and in the manufacture of bronze bearings.It is also used in solder, collapsible tubes and the chemical industry.Cassiterite has been found in the debris from pegmatite that occurs in the Saltpond areas.

KAOLIN – A valuable raw material of the ceramic and paper industries occurs as the weathered products of the feldspar in the pegmatites. Several bodies of these are found at Saltpond bypass and Abandzre.

CLAYS – The clays of Abonko and Baafikrom are for pottery. The calculated volume of clay at Abonku is estimated at 370,000 tons. Clay for pottery exists at Mankessim also. Beyond these products, timber products are found at Dominase Kyeakor and across the whole district, fuel wood and some game resources such as deer and grass-cutters can be found.

Industrial activities are also well developed in the Mfantseman Municipal compared to other assemblies in Ghana. This is due to abundant natural and human resources, a good enabling environment in terms of infrastructural facilities and activities, and the committed assistance provided by the  Assembly.

In the food processing sector, private investors are profitably engaged in corn milling, sugar cane crushing, gari processing and palm oil extraction. Light industries include pottery and ceramics at Baafikrom, Otabanadze and Saltpond, soap making at Mankessim, gin distilling at Anomabu and Egya and fish processing at Ankaful, Anomabu, Abandze and Biriwa.

Importantly, demand for the products from all these activities still exceeds supply by far which means there is still room for new firms to enter the market. At Anomabu, boat building and repairs constitue a thriving business.