AfricaVolt Signs MOU with MIIF for Lithium Processing Plant at Hiowe Industrial Park
ACCRA, Ghana – 29th November 2023 – AfricaVolt with the Minerals Income and Investment Fund (MIIF) today announced a landmark partnership, signing a Memorandum of Understanding (MOU), a high-capacity lithium conversion plant.
This partnership is a pivotal moment in Ghana’s push for local value addition in its mineral sector, moving beyond the export of raw materials to the production of high-grade inputs for the global electric vehicle (EV) battery supply chain.
Nana Prempeh, Founder and Director of TFI Group, emphasized the transformative nature of the agreement. “The deal with AfricaVolt is a giant leap forward in realizing our vision for the Hiowe Industrial Park. We didn’t just design a park for assembly; we designed it for the future of industry—and the future is green, digital, and electrified,” said Nana Prempeh.
“This lithium processing facility will be a major industrial anchor, confirming that Ghana is serious about capturing the highest value segment of its natural resources. It connects our clean power with high-tech manufacturing, creating the full value chain”.
The AfricaVolt plant is expected to contribute substantially to the park’s manufacturing ecosystem, positioning the Advanced Manufacturing Cluster as a hub for critical mineral processing. Furthermore, the facility will be among the first large industrial users to leverage the park’s clean power supply, aligning perfectly with TFI Group’s commitment to sustainable infrastructure development.
Strategic Alignment with National Goals
The project directly supports Ghana’s national industrial policy, which aims to diversify exports and secure a competitive foothold in high-demand international markets. The ability to produce high-purity lithium compounds locally will attract other manufacturers, such as battery component producers, to the park, fostering technological exchange and creating hundreds of specialized jobs.
“This is not just an investment in a factory; it’s an investment in a high-skilled workforce,” added Nana Prempeh. “We forecast that the Africa Volt operation, combined with subsequent upstream and downstream suppliers, will be a magnet for technological training and skill transfer, cementing the park’s role as an engine for industrial advancement across the entire West Africa region.”
The development timeline for the Africa Volt plant is set to commence in line with the final
stages of Phase 1 infrastructure completion at the Hiowe Industrial Park.
ABOUT TFI GROUP
Ten Forward International Group (TFI Group) is an Infrastructure Development and Investment Holding Company headquartered in Accra, Ghana. TFI Group focuses on sustainable infrastructure projects that accelerate socio-economic development across Sub-Saharan Africa. The Group’s core activities include Renewable Power Generation, Minerals Explorations and Critical Minerals Processing. TFI Group leverages deep local knowledge and strategic international partnerships to develop, finance, and manage projects that generate sustainable employment and wealth creation for all stakeholders.
Contact:
Natasha Swords
IR and Communications
natasha.swords@tenforwardgroup.com