Ghana Project Benefits

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The Ghana project is expected to bring many benefits to the local economy as well as the country as a whole:

This first-of-its-kind operation will create hundreds of jobs and business opportunities. It will also help to raise the standard of living in some communities around the lake. It is expected to foster growth for the region through its own activities and through sourcing supplies and services.
When fully operational, CSR Developments will employ close to 400 people, and create more than $100 million in foreign earnings per year.
The total impact of the project on the economy will be more than 1,400 jobs and several hundred million dollars in economic activity annually.
CSR Developments is working with government and others towards a long-term solution to improve lake transportation safety by exploring tree removal and other solutions.
Expanded lake transportation will create new economic development opportunities in the region.
Community development projects initiated and supported by CSR Developments will focus on critical social, educational, and environmental issues.
The Government of Ghana has a substantial carried interest in the project and it will significantly expand the regional tax base.
The operations of CSR Developments will establish world-class social and environmental management and performance throughout its operations.
A co-generation plant will produce electricity for the mill with excess amounts being made available to the Ghana power grid.
The Volta Lake timber salvage project will bring a major international calibre timber operation to Ghana. It will not only help revitalize the industry, but also establish Ghana as the world leader in the emerging underwater timber industry.
The worldwide marketing of this unique Ghanaian resource will provide hard currency and broad economic benefits.
Foreign direct investment of $15 million has already been deployed in Ghana and an additional $100 million investment is planned over the next four years.

Based on a screening of available literature on the economic multiplier effects of forestry industries in Africa, the following estimates were derived for the project:

Employment Multiplier

CSR Developments is anticipated to have an employment multiplier of approximately 3.5. This means that each job created by the company directly is expect to create a further 2.5 jobs in the economy, adding up to a total of approximately 1,400 jobs created.

Value-added Multiplier

A recent economic study summarized value-added multipliers for forestry industries around the world. These numbers point to an average value-added multiplier of 2.7 for forest industries in West Africa. Therefore, for each dollar of value created by CSR Developments, an additional 1.7 dollars would be added to the Ghanaian economy. Thus the company’s operations will create additional economic activity of several hundred million dollars to the economy of Ghana every year.

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Highlights & Benefits: Ghana-hilites

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