The Asantehene, Otumfuo Osei Tutu II, is calling for a change in Ghana’s mining sector urging the government to prioritize Ghanaian investors over foreign companies in large-scale mining concessions.
Ghana’s mining sector has long been dominated by foreign firms, sparking debates over who truly benefits from the country’s vast mineral wealth.
Otumfuo argues that local ownership will ensure greater economic benefits for the nation.
Speaking at the Ashanti Regional House of Chiefs’ general meetingon July 18, he cited South Africa’s Johannesburg as a success story where indigenous ownership has driven real economic transformation.
“We have to push for policies that empower Ghanaian investors to take control of large-scale mining operations. That enable the country benefit significantly from our mineral resources. We must prioritize awarding mining concessions to Ghanaian investors – even if it means they partner with foreign entities. Local ownership should be non-negotiable in our mineral resource development”, Otumfuo stated.
His proposal aligns with growing calls for economic empowerment and local beneficiation, ensuring Ghanaians reap more rewards from their resources.
Deputy Minister for Lands and Natural Resources, Yusif Sulemana agrees with Asantehene.
“It is the commitment of this government to ensure that Ghanaians are able to take up large scale consignment. We will introduce policies that will prioritize local investors and ensure that the wealth from our soil benefits our people”.
The Asantehene also challenged traditional leaders to prioritize long-term equity stakes in mining ventures rather than settling for short-term royalty payments to reshape Ghana’s mining benefit-sharing model.
With the Minerals Commission currently reviewing the Minerals and Mining Act, stakeholders are hopeful that this push for local ownership will translate into concrete policy changes.
