A leading member of the New Patriotic Party (NPP) and Executive Director of the Institute for Energy Policies and Research, Kwadwo Poku, has urged that Ghanaian investors can successfully own mining companies but must collaborate with foreign technical partners and avoid government ownership to ensure efficiency and growth in the sector.
Speaking on the AM Show on Joy News on March 11, Mr Poku stressed that while Ghana has the capacity to own its mining operations, it must rely on experienced technical partners to support management and operational expertise.
“I’m not saying Ghana cannot own it. If we want to do it, we can only do it with technical partners,” he said.
He noted that many successful companies operating in Ghana rely on foreign expertise in key management positions, helping them remain competitive and efficient.
“Most Ghanaian companies that are doing well have experts manning certain positions. Go to Spintex, go to the North Industrial Area, and look at the management of people running these big industries and see if the leadership is Ghanaian,” Mr Poku stated.
According to him, the desire to see Ghanaian-owned companies succeed must be balanced with a realistic assessment of operational challenges within local businesses.
“Let’s be honest and fair. We want Ghanaian-owned companies to do well, but after investing so much money, sometimes we realise the Ghanaian is the problem. So, you end up bringing in experts,” he said.
Mr Poku further argued that the government should not own mining enterprises, insisting that state-run institutions often struggle more than privately managed firms.
“If we want to invest Ghanaian money into Ghanaian-owned mines, it shouldn’t be owned by the government because government-owned institutions are even worse,” he added.
He cited the performance of Cocoa Processing Company Limited, producers of Golden Tree, comparing it with the privately run Niche Cocoa Industry Limited, which he said has made significant strides within a relatively short period.
“They are given cocoa to produce chocolate. Compare them with the niche that came in within the last five to ten years. Which company today is worth more?” he questioned.
Mr Poku urged policymakers and investors to move away from emotional arguments about ownership and instead focus on partnerships and management structures that will make Ghanaian enterprises more competitive.
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Source: www.myjoyonline.com