Ghana’s President has said that Africa must enrich itself from its natural resources.

Nana Akufo-Addo said the countries on the continent must consider adding value to its natural resources.

He added that African countries must also negotiate well with mining companies.

Ghana’s President, Nana Addo Dankwa Akufo-Addo has said that Africa’s mining industry must enable the economic transformation of countries on the continent instead of make them poor.

He was speaking at the 2019 edition of the Investing in African Mining Indaba, the world’s largest mining investment conference.

Nana Akufo-Addo said that it is not right for Africa to be inhabited by the poorest people in the world even though the continent is so rich in minerals that are sought after by the world.

He said that some factors which have led to this situation include the poor negotiation skills of African leaders. He said Africa has come of age and should not give unusual tax and royalty incentives, and mining companies should not expect to make extraordinary profits on the continent.

He, therefore, told the gathering that, on 22 January 2019, the re-opening of the AngloGold Ashanti mine in Obuasi was done under an agreement that balances more fairly the interests of the two sides, that is the Government of Ghana and AngloGold Ashanti. “As I said at the ceremony, it is my hope and expectation that, this time around, under the new management of AngloGold Ashanti, the development of Obuasi will reflect the wealth its soil produces,” he indicated.

President Akufo-Addo was of the view that since the minerals are a public resource, the negotiations between countries and companies should be transparent, accessible and easily understandable by citizens.

“Communities should be able to examine mining contracts, find out how much revenue has been generated, and how, and on what it is being spent,” he said, adding that “long and bitter experience means both sides, African governments, and mining companies, have to work hard to gain the trust of the people.”

Nana Addo said just like developed countries “mining, can help rapidly to grow Africa’s manufacturing sector, and be the champion of economic growth on the continent.”

However, he said this will not happen if Africa continues to be the place where you dig minerals that are exported in their raw form to be processed outside.

“We cannot, and should not continue to be merely exporters of raw materials to other countries. The value chain of mineral extraction has great potential for job creation, and can form an essential basis for the transformation of economies around the continent,” he added.

He concluded by saying “Africa has made the world rich with our minerals, our gemstones adorn crowns and homes around the world, it is time to make Africa prosperous and enable her people to attain a dignified standard of living. Join us in this exciting project for sustainable economic growth,” President Akufo-Addo said.

Source; https://www.miningng.com/mining-must-make-africa-rich-not-poor-ghanas-president/

leaders like our president who rush to sign agreement without even opening it

pls let join hands to bring NANA AKUFO in de person of ATIKU and do away with this Mr integrity-my-foot

are u wit me

Okay

na today......say something innovative

jh

Rich

If you don’t want you Children and their children to suffer please vote for SOWORE

.

Yes, Africa mines but the continent does not determine the price of the extracted materials.
Until Africa learn to mine and process the raw materials into finished goods. The richness in question will continue to be a mirage.

Ghana pass Nigeria na

Africans dont determine the price. So it wont make us rich

phelonrays:
leaders like our president who rush to sign agreement without even opening it

pls let join hands to bring NANA AKUFO in de person of ATIKU and do away with this Mr integrity-my-foot

are u wit me

Fayemi I believed improved the fortunes of the mining sector. His appointment I believe was good for the sector

But governance would make Africa poor.




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Yes, president ruling a whole nation must be intelligent not dullard!

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Sometimes I wonder what's the meaning of this compulsory 8(eight) years rule in this country. I believe four years is enough for an incumbent to give way for another. Voting in a new candidate or the incumbent should be the choice of the masses and not the Incumbent him/herself, depending on his/her(Incumbent) performance.

Good say though

But crude oil is the only thing they see

Hope the don't mean skull mining? Ogun has the highest IGR in Nigeria

We are in need of dynamic leaders in this country.

God help us.


Check my signature and learn something new.

Africa ain't poor, it's the few people that have access to the wealth but refused to use them for her development. Instead they prefer to embezzled the common wealth and be tagged multi billionaire. Leaving the continent as where poverty reigns.

It is enriching just African Politicians while the masses suffer.

Way to go

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That’s if greedy people like PDP don’t divert all the revenue into their private accounts.

OBTMOS:
Ghana pass Nigeria na

You've no point

ednut1:
Africans dont determine the price. So it wont make us rich

sensible comment unlike someone up there who wrote Ghana pass Nigeria na. #senseless statement

when I heard the word mining, you can guess what comes to my mind, if you know you know