Tema Steel Company Pays ?1 Billion Dividend

The Minister of Trade and Industry, Dr. Konadu Kofi Apraku has re-echoed governments ban on exportation of scrap metals.

He said it is illegal for any Ghanaian to indulge in the exportation of scrap materials or facilitate the exportation of scrap metals.

He said this at the presentation of ?1.1 Billion dividend by Tema Steel Company to the Minister of Finance.

He explained that, the exportation of scrap materials adversely affect the local steel industries since they are their primary materials.

Dr. Apraku called on Customs Excise and Preventive Service (CEPS) and other institutions involved to help curb the exportation of scrap materials.

Receiving the cheque on behalf of the government, the Finance Minister, Mr. Yaw Osafo Maafo said it is important to note that the development of a country is measured by the country’s consumption of steel, “The more developed a country becomes the higher the consumption of steel products,” he added.

Mr. Osafo Marfo said his ministry is ready to offer support and help to them, adding that the dividend will go a long way to strengthen his ministry and make it possible for his ministry to assist the company when the need arises.

On their part, the representatives of Tema Steel Company Limited expressed their satisfaction in the two ministers supportive statements.