The Executive Chairman of Jonah Capital, an equity fund based in Johannesburg, South Africa, Sir Samuel Esson Jonah, has incurred the wrath of Ransford Van Gyampo, a Professor of Political Science at the University of Ghana.
His outburst come on the back of comments made by the former President of AngloGold Ashanti, praising Ghana government for its foremost agreement with Atlantic Lithium to mine lithium, a key ingredient for electric vehicles (EVs), at Ewoyaa in the Central region.
Sir Sam Jonah lauded the government for securing what he calls a better fiscal terms for Ghana’s first lithium mine compared to those on existing mining contracts. He, however, stated that the country must now be strategic to help concretise the immense benefits of the electrification boom that the emerging industry promised.
The man whose expertise in the design and implementation of better fiscal regimes for African countries is recognised globally, had said that the terms of the lithium deal represented a credible step to actualising the increased Ghanaian ownership of the mining sector that he had long advocated.
“I have long said in my speeches that there is the need to encourage Ghanaian ownership in our mines. This is the first credible step towards that and it needs to be praised, not condemned,” he said in an interview in reaction to the deal which was announced mid October.
But the mining mogul’s comment did not go well with many Ghanaians, including CSOs and individuals who think the deal is nothing different from what Ghana’s previous agreements have been.
In Professor Gyampo’s letter, he told Sir Sam Jonah that the 13 per cent Ghana tends to benefit from the lithium agreement is nothing worth celebrating as the businessman is portraying, and it would be better he kept quiet for Ghanaians to make demands for what is better for them.
Find below his full statement addressed to the UCC Chancellor:
I am told you have praised the Lithium deal that gives Ghana about 13 percent of our Lithium proceeds and 87 percent to foreigners. But sir, you are aware of an emerging and more improved transactional model that has been adopted by major Lithium producers, such as Mexico, Bolivia, Chile and Argentina. So, why you decided to praise the current deal in Ghana baffles me.
As you may be aware, the Ghanaian people, including myself have a lot of respect for you. But you must know that, we all know that, you earned your name and wealth by working in the interest of international and foreign mining firms, not in the interest of Ghana. You have been around for all this while and seen Ghana earn only 5percent of its gold mining as royalties, while 95percent of gold mining profits go to foreigners.
You have been around to see Ghana earn less than 15 percent of its oil production and today, I am told, you are telling us that the 13 percent deal to Ghana from her Lithium is a good deal. Sir, I hope this is a lie. But if it is true, then, respectfully, you certainly spoke in the interest of the foreigner and not Ghana.
If it is too late for you to turn around, I can understand, but in that case, please just be quiet and watch us fight for Ghana’s interest. We are committed to doing this through advocacy and other legitimate militant means, in a manner that would put all those who have aided foreign thieves and the looting of our natural resources to shame.
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