A former Chief Justice, Sophia Akuffo has expressed support for significant local participation in Ghana’s mining and extractive sectors.
Responding to questions on the takeover of the Damang Goldfields concession and Azumah Mines by Engineers and Planners, a local mining firm, Madam Akuffo argued that encouraging Ghanaian participation in the mining and other extractive sectors is a move toward economic sovereignty.
Speaking at a press conference organised by the Institute of Economic Affairs, (IEA) to register the institute’s concerns over government’s current reforms in the mining and extractive sector which appears to promote traditional concessionary agreements rather than state ownership, she emphasised that ensuring Ghanaian ownership in natural resource exploration was a step at changing the age-old ‘Guggisberg’ economy where foreigners control essential aspects of the resources.
“Any kind of legitimate local participation, hooray, thank God. I don’t want to know who owns the company. The most important thing is that it is owned by Ghanaians, it is run by Ghanaians, it is a Ghanaian company and it pays its taxes.” Madam Akuffo stated.
The comment comes at a time some Ghanaians are raising concerns about the lack of transparency surrounding the takeover of the Damang Mining field and other mines by Engineers and Planners.
For instance, the Minority on Parliament’s Lands and Natural Resources Committee raised concerns over what it describes as a growing pattern of state capture involving businessman Ibrahim Mahama, brother of President John Dramani Mahama.
Led by Kwaku Ampratwum-Sarpong, Ranking Member of the Committee, the group alleged that companies linked to Ibrahim Mahama have enjoyed undue advantage.
However, Justice Akuffo maintained that so far as the takeover process is legitimate, locals should be encouraged to venture into foreign dominated sectors of the economy.
“Any kind of legitimate local participation, thank God! I don’t want to know who owns the company. The most important thing is that it is owned by Ghanaians.”
“Let’s have more Ghanaian companies coming into the pictures. There are many, many, many skilled, experienced Ghanaians at every level of whatever we need from bringing up the mineral to processing it to adding value to it.”
She urged Ghanaians to champion legitimate local ownership along the mining value chain.
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Source: www.myjoyonline.com
