Accra, Ghana, July 27, 2022 — IFC and LMI Holdings today announced a partnership to provide essential
infrastructure services to manufacturing companies located in LMI-operated special economic zones in
Ghana to support job creation and greener, more sustainable and more competitive industrial development
in the country.
Under the partnership, LMI will build a 16.8-megawatt rooftop solar plant that will power businesses
operating in the Tema Free Zone (Tema FZ), on the outskirts of Accra, helping to contribute to Ghana’s
climate agenda. LMI will also build a water treatment and distribution plant, with an initial capacity to treat
4,000 cubic meters per day to serve businesses in the new Dawa Industrial Zone (Dawa IZ), also on the
outskirts of Accra.
IFC will provide LMI with a loan of up to $30 million from its own account to support LMI’s development
plans in the two industrial zones, providing dozens of firms with the essential infrastructure they need to
increase their productivity and competitiveness.
“As an indigenous Ghanaian company, LMI is committed to the task of facilitating our country’s
industrialization ambitions and boosting exports. This partnership with IFC gives LMI the means and space
to make big bets on Ghana,” said Kojo Aduhene, LMI’s CEO.
“This project demonstrates how the private sector can bring effective solutions to development challenges
and support job-creation. Through this investment, IFC’s first that is funding both infrastructure and water
development in an industrial special economic zone in sub-Saharan Africa, IFC is supporting Ghana’s
industrialization ambitions for a greener and more sustainable future,” said Kyle Kelhofer, IFC’s Senior
Country Manager for Ghana.
LMI’s solar plant in Tema FZ, compared with current thermal power on the national grid, is expected,
together with the water plant, to reduce Ghana’s emissions by approximately 10,000 tons of CO2 equivalent
annually. The water plant will be Ghana’s first private production of reliable, high-quality water for industry.
LMI, a highly diversified Ghanaian company with interests in the construction, property development,
logistics, utilities, and ICT sectors, is the primary developer of the Tema FZ, which hosts more than 80
companies operating in various sectors, including building materials and agro-processing. LMI has also
embarked on developing its second industrial park with a total area of 2,000 acres, as part of a new city
development, Dawa City, 40 kilometers to the east of Accra.
Over the last decade, IFC has provided over $4 billion in financing and advisory services to Ghanaian
companies in sectors including agribusiness, education, energy, healthcare, financial services,
manufacturing, retail, tourism, and transport.
About IFC
IFC—a member of the World Bank Group—is the largest global development institution focused on the
private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and
influence to create markets and opportunities in developing countries. In fiscal year 2021, IFC committed a
record $31.5 billion to private companies and financial institutions in developing countries, leveraging the
power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with
the impacts of the COVID-19 pandemic. For more information, visit www.ifc.org.
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About LMI
LMI, a highly diversified Ghanaian company with interests in the construction, property development,
logistics, utilities, and ICT sectors, is the primary developer of the Tema FZ, which hosts more than 80
companies operating in various sectors, including building materials and agro-processing. LMI has also
embarked on developing its second industrial park with a total area of 2,000 acres, as part of a new city
development, Dawa City, 40 kilometers to the east of Accra.
For further information, visit www.lmi-ghana.com
Stay Connected
https://www.linkedin.com/company/lmiholdings/
https://www.linkedin.com/company/epcghana/
https://www.linkedin.com/company/southern-utilities-limited
Kojo Aduhene is the Chairman and Chief Executive Officer of LMI Holdings with 27 years’ post qualification experience in the construction industry. He holds a B.Sc. Degree in Civil Engineering from Leeds University. After his University education, he worked on a number of prestigious projects in the UK, including the Channel Tunnel, which links mainland UK to continental Europe and the Docklands, a hugely successful urban rejuvenation development.
He returned to Ghana in 1992 to set up his own company, John Murphy Construction, which has developed into what can arguably be described as one of the largest Civil Engineering, Property and Utility Conglomerates in Ghana- LMI Holdings.
His passion is teaching and his driving ambition is to make AFRICA RISING a reality
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nulla mauris dolor, gravida a varius blandit, auctor eget purus. Phasellus scelerisque sapien sit amet mauris laoreet, eget scelerisque nunc cursus. Duis ultricies malesuada leo vel aliquet. Curabitur rutrum porta dui eget mollis. Nullam lacinia dictum auctor. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos. Orci varius natoque penatibus et magnis dis parturient montes, nascetur ridiculu.
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Mr Albert Essien is a retired banker and the former Chief Executive Officer of Ecobank Transnational Incorporated (ETI) where he spent 25 years rising through the ranks to become Group CEO in March 2014.
Prior to becoming Group CEO, Mr Essien served as Deputy CEO and Executive Director for Corporate and Investment Banking for 2 years. Mr Essien had previously led ETIs operations in Anglophone West Africa (excluding Nigeria), Eastern and Southern Africa. He is widely credited with the growth of the Ecobank brand in these markets.
Mr Essien started his banking career in 1986 with the National Investment Bank (NIB) in Accra, Ghana and joined the Corporate Banking Department of Ecobank Ghana in 1990.
Albert Essien holds a degree in Economics from the University of Ghana and is an alumnus of the Executive Development Programme of INSEAD (France/Singapore).
He is also an honorary fellow of the Chartered Institute of Bankers, Ghana. Mr. Essien joined the LMI Board in May 2012
Mr. Justice Kusi-Minkah Premo is a lawyer by profession and is the Founder and Chief Executive Officer of Minkah-Premo & Co. (Legal Practitioners). He was called to the Ghana Bar in April 1984 and is a member of the Ghana Bar Association.
He has previously served as the Former Vice President of the Ashanti Region branch of the Ghana Bar Association, the Former National Vice President of the Ghana Bar Association, the Former member of the General Legal Council (Body responsible for training, certification and discipline of lawyers in Ghana), the Former member of the Advisory Board of Ministry of Justice and Attorney General’s Dept and as a Former Senior Lecturer of the Ghana School of Law.
Currently he is serving on the boards of Minkah Premo & Co, UT Holdings Ltd., UT Life Ltd. and the Ghana Police Council.
He holds an LLB (1981) from the University of Ghana, a BL (1984) from the Ghana School of Law and an LLM (2005) from the University of Ghana.
Mr. Justice Kusi-Minkah Premo joined the LMI Board on 1st January, 2016.
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Mauris rhoncus orci in imperdiet placerat. Vestibulum euismod nisl suscipit ligula volutpat, a feugiat urna maximus. Cras massa nibh, tincidunt ut eros a, vulputate consequat odio. Vestibulum vehicula tempor nulla, sed hendrerit urna interdum in. Donec et nibh maximus, congue est eu, mattis nunc. Praesent ut quam quis quam venenatis fringilla. Morbi vestibulum id tellus commodo mattis. Aliquam erat volutpat. Aenean accumsan id mi nec semper.