Blog

  • Ghana’s New Economy

    Ghana’s New Economy

    Why Mining Should Be the Anchor of Our New Economic Transformation.

    As the Minister for Finance engages key ministries on Ghana’s New Economy, the ambition is compelling: to build an economy that does not merely withstand shocks but creates wealth and grows on the strength of what Ghana produces.

    The challenge is to translate this ambition into an industrial strategy. For decades, Ghana has measured mining largely through exports, taxes, royalties, foreign exchange and employment. These remain important. But if the New Economy is genuinely about production, we must ask a different question: how can the purchasing power of the mining industry be converted into factories, technologies, skills and Ghanaian-owned enterprises? This is where mining should become an anchor of Ghana’s economic transformation.

    In 2025, producing member companies of the Ghana Chamber of Mines spent approximately US$4.2 billion on procurement, while their broader expenditure in Ghana was about US$7.14 billion. That is more than expenditure. It is industrial demand waiting to be organised.

    Every mine purchases machinery, grinding media, activated carbon, chemicals, explosives, electrical equipment, pipes, protective clothing, engineering services, food, transport, software, energy and hundreds of other inputs.

    The strategic question for the Minister for Finance should therefore be: of everything Ghana’s mining industry buys annually, what can Ghana competitively produce within the next five to ten years? Answering this could fundamentally change our industrial trajectory.

    Consider activated carbon. 

    Ghana’s gold mines consume activated carbon, while the country produces coconuts whose shells can provide an important raw material for its manufacture. A deliberate industrial programme could connect coconut farmers to processors, manufacturers and mining companies.

    The same principle can be explored for grinding media, industrial chemicals, cables, pumps, pipes, protective equipment, equipment components and engineering services. Mining should therefore cease being treated as an economic enclave. It should become a platform for industrialisation.

    The Minister for Finance should champion a National Mining Industrial Linkages Programme, bringing together the ministries responsible for Finance, Lands and Natural Resources, Trade, Agriculture, Energy, Education and Digital Technology, alongside industry, universities, financial institutions and research organisations.

    Its first assignment should be comprehensive mapping of the mining supply chain: what the industry purchases, what is imported, its annual value, what can currently be produced locally, and which products Ghana could competitively manufacture within three, five and ten years.

    But localisation cannot be built on aspiration alone. It must be built on science. The Council for Scientific and Industrial Research (CSIR) should therefore be commissioned to lead applied research, working with universities, mining companies and manufacturers, to identify mining inputs that can be competitively produced from Ghanaian raw materials.

    Can Ghana manufacture activated carbon from coconut shells at the quality and scale mines require? Which industrial chemicals can be produced locally? Which equipment components can Ghanaian engineering companies manufacture? Can mine waste and by-products become inputs for construction and other industries? These should become national research questions connected directly to commercial opportunities. Promising research must then move from laboratories into pilot plants and ultimately into commercial production.

    But financing and ownership matter.

    Ghana should consider a Shared-Equity Mining Industrialisation Model for strategic mining-input industries. Under such a model, a technically capable strategic investor could provide technology, capital and access to markets; Government could hold equity and provide enabling infrastructure and policy support; a credible Ghanaian-owned business could hold significant equity and lead local enterprise development; while the host community and District Assembly could jointly hold equity through an appropriate vehicle.

    The percentages need not be predetermined. They should reflect the capital requirements, risks and commercial realities of each project. This would represent a significant shift from communities receiving only corporate social investments or statutory transfers to becoming owners of productive assets.

    Imagine an activated-carbon factory located close to a coconut-producing area, supplying Ghana’s mines and eventually exporting across Africa. Farmers provide the raw material. A strategic investor brings technology. A Ghanaian company participates in ownership and management. Government facilitates infrastructure and investment. The community and Assembly own shares and benefit when the business succeeds. That is economic transformation.

    The model could progressively be explored for selected chemicals, engineering components, mining consumables and other products where feasibility studies establish Ghana’s competitive advantage.

    Government could complement this with a dedicated financing window through appropriate development-finance institutions to provide patient capital for machinery, certification, research and expansion. However, local content must never become a euphemism for expensive or inferior production.

    The objective must be competitive Ghanaian production. 

    Mining companies compete globally and require reliable inputs meeting international standards for quality, safety, availability and price. Research, technology transfer, certification and economies of scale must therefore underpin localisation.

    Mining demand can similarly stimulate agriculture, engineering, renewable energy and digital technology. Modern mines increasingly depend on automation, drones, sensors, artificial intelligence, cybersecurity and data analytics. Ghana should develop companies capable of solving these problems locally and exporting those solutions across Africa. Ghana can learn more about drone technology from Iran.

    Ultimately, gold is finite. Mines eventually close.

    Ghana’s mining legacy therefore cannot simply be ounces produced, taxes paid or royalties collected. The real test should be what productive capacity remains when mining ends.

    Did mining help us build internationally competitive manufacturers? Did it create engineering and technology companies? Did communities become shareholders in productive enterprises? Did Ghanaian businesses that started by supplying Tarkwa, Obuasi and Ahafo eventually supply mines across Africa? That is how finite mineral wealth creates permanent economic capability.

    The Minister for Finance’s vision of an economy that creates wealth and grows on the strength of what Ghana produces is therefore both timely and achievable.

    But Ghana may not need to search far for the engine. The market already exists. The demand already exists. The infrastructure, expertise and global connections already exist.

    Mining can provide the anchor. Manufacturing, agriculture, energy, technology and services can provide the linkages. Ghanaian enterprise can provide the growth. The opportunity before us is to connect them deliberately. Because the greatest value Ghana can extract from mining may ultimately not be what we take from beneath the ground. It may be everything we learn to produce above it.

  • The Adamus Lease Revocation

    A Paradox of Ghanaianisation.

    There is a difference between planting a Ghanaian flag over a mine and building Ghanaian capacity beneath it. For generations, Ghana has dug into the earth in search of gold. Yet perhaps the most important question confronting the country today is no longer how much gold lies underground, but how much Ghanaian capacity we are building above it.

    Government has spoken strongly about increasing Ghanaian participation in mining. It is an ambition worth supporting. A country cannot remain forever a landlord collecting rent from its inheritance while others build corporations from it.

    But policy is not measured only by speeches. It is measured by decisions. And when those decisions are placed side by side, they must tell a coherent story.

    That is what made the recent dispute involving Adamus Resources particularly significant. Adamus Resources Limited is Ghanaian-owned. Yet the Ministry of Lands and Natural Resources confirmed the revocation of three mining leases held by the company following findings by the Minerals Commission.

    Government raised serious allegations, including unauthorised mining activities, subcontracting without approval, operations without approved plans or valid permits, and other regulatory breaches. Adamus rejected the allegations and challenged the process leading to the revocation, arguing that principles of fairness and administrative justice had not been respected.

    These allegations cannot be trivialised. Ghanaian ownership cannot become immunity from Ghanaian law. A Ghanaian flag painted on an excavator does not give that excavator permission to cross a regulatory boundary. Local ownership without compliance is not development.

    But beyond the legal arguments emerged a larger question: What exactly is Ghana’s philosophy for building Ghanaian mining companies?

    There is an old lesson in cultivation. When a young tree bends, the farmer does not immediately reach for the axe. He stakes it, prunes it and waters it. Not because crooked growth should be tolerated, but because the objective is to eventually produce a stronger tree.

    Where regulatory breaches are legally remediable, the state should be able to deploy compliance directives, penalties, restructuring, stronger supervision and clearly defined timelines. Revocation must remain available where the law warrants it, but it should be the regulatory axe, not necessarily the regulatory first-aid kit.

    A Welcome Presidential Intervention

    It is against this background that the intervention by President John Dramani Mahama deserves commendation.

    On August 21, 2026, the Presidency announced that Adamus Resources had been given a reprieve following a meeting involving the company, the Ministry of Lands and Natural Resources and the Minerals Commission.

    Rather than allowing the dispute to harden into opposing positions, the President brought the parties to the table and asked them to develop a pathway towards resolving the challenges facing the mine.

    Under the arrangement, Adamus is expected to present a 12-month roadmap for turning the mine around. It will include a six-member management team, comprising three representatives each from Adamus and government, to supervise the turnaround.

    The roadmap will also address liabilities owed to the Ghana Revenue Authority, Minerals Income Investment Fund, financial institutions and suppliers. Importantly, the parties will explore injecting fresh capital by inviting additional partners to take equity in the operation. The roadmap is expected to be presented to the President within two weeks.

    This is a significant show of leadership.

    Leadership is not always demonstrated by choosing one side of a dispute. Sometimes, it is demonstrated by creating the table around which competing interests can find common ground.

    The President’s intervention does not mean Adamus should escape accountability. If breaches are established, they must be remedied and appropriate sanctions applied. Neither should Ghanaian ownership become a shield against regulation.

    What the intervention demonstrates is that accountability and corporate extinction do not necessarily have to mean the same thing.

    There is wisdom in asking whether a Ghanaian company facing serious challenges can be restructured, recapitalised, supervised and restored to compliance before the final axe falls. For demonstrating that balance between enforcement and enterprise development, the President deserves commendation.

    Building Ghanaian Champions

    Large multinational mining companies were not built in a day. They became formidable institutions through decades of capital accumulation, acquisitions, mistakes, restructuring and technical learning. If Ghana wants globally competitive indigenous mining companies, it must also think in decades.

    Government cannot simply hand Ghanaian businesses mineral assets and call that empowerment. It must create an ecosystem in which Ghanaian companies can acquire capital, technology, governance systems and technical expertise while being held to the standards expected of responsible mining companies.

    The Adamus intervention therefore presents an opportunity to define what Ghanaianisation should mean.

    It should not mean replacing every foreign company with a Ghanaian one. Neither should it mean protecting Ghanaian businesses regardless of performance. It should mean deliberately building Ghanaian enterprises capable of competing with the best while maintaining environmental, safety, financial and governance standards.

    This debate becomes more important when placed alongside developments at Damang Mine and Gold Fields Tarkwa. At Damang, government chose a path that eventually saw the operation transition to the state, with Engineers & Planners, a Ghanaian-owned company, subsequently approved as the successful bidder for the mining lease. At Tarkwa, discussions continue over the renewal of Gold Fields’ mining leases.

    Each situation has its peculiar circumstances. But investors rarely read government decisions individually. They read them together. Together, they become a signal.

    Mining capital is patient, but it is not sentimental. Investors can model taxes, royalties and local-content requirements. What capital struggles to price is policy unpredictability.

    Ghana therefore needs consistency: consistency in enforcing regulations, protecting legitimate investment and nurturing Ghanaian enterprises.

    Foreign investment and indigenous enterprise should not be treated as opposing armies. Foreign capital can provide investment, expertise and technology. Ghanaian participation can deepen domestic value retention and build national capability. Government’s responsibility is to construct the bridge between them.

    President Mahama’s intervention in the Adamus dispute is an encouraging attempt to build that bridge. If the turnaround succeeds, it could become an important example of how the State can combine firm regulation with pragmatic support for indigenous enterprise.

    For more than a century, Ghana has exported gold. Perhaps the next chapter of our mining history should also be about exporting something else: Ghanaian mining companies.

    Gold eventually runs out. Institutions endure.

    And perhaps the true measure of Ghana’s mineral wealth will ultimately not be the number of ounces we extract from the earth, but the number of enduring Ghanaian enterprises we build above it.

  • The Wontumi Trial

    The Wontumi Trial

    Why This Court Ruling Could Change Ghana’s Mining Industry Forever.

    When the High Court sentenced Bernard Antwi Boasiako, popularly known as Wontumi, to 20 years’ imprisonment over offences relating to mining activities on Akonta Mining’s concession, the headlines understandably focused on the man and the punishment.

    But the real story is much bigger than Wontumi.

    Whether one agrees with the judgment or believes it should be overturned on appeal, one thing is certain: this case has the potential to change the way mining companies operate in Ghana for years to come.

    In fact, this may become one of the most important legal decisions in Ghana’s mining sector since Parliament strengthened the Minerals and Mining Act to fight illegal mining, commonly known as galamsey.

    This Case Was Never Just About Illegal Mining

    Many Ghanaians have followed the case as another illegal mining prosecution. That is understandable because illegal mining has dominated national conversations for nearly a decade.

    However, the judge was not simply deciding whether illegal mining took place inside Akonta Mining’s concession. The central legal question was surprisingly straightforward:

    Can the holder of a mining lease allow another person to mine on the concession without first obtaining approval from the Minister responsible for Lands and Natural Resources?

    The Court’s answer was clear. No.

    More importantly, the Court ruled that it does not matter whether that permission was contained in a formal written agreement or given verbally. Once another person is allowed to exercise rights that belong exclusively to the licence holder, the law may regard that as an unlawful dealing with the mineral right.

    That interpretation is likely to influence many future mining cases.

    A Message to Every Mining Company

    One lesson from the judgment stands out above all others. Owning a mining lease does not give a company unlimited freedom to decide who operates on its concession.

    The State grants mineral rights under strict conditions because Ghana’s minerals belong to the Republic, not to private companies. A mining lease gives a company the right to exploit those minerals, but only within the framework established by law.

    The Court has now reinforced that principle. If a concession holder allows another individual or company to mine without following the legal approval process, it could face criminal consequences.

    This is likely to make mining companies far more cautious about informal operational arrangements.

    The Days of Handshake Agreements May Be Coming to an End

    One of the most striking aspects of the judgment is the Court’s treatment of informal agreements.

    Across many sectors in Ghana, business relationships often begin with trust. A handshake, a telephone conversation or a verbal understanding may be enough to get work started.

    In mining, however, the stakes are much higher. The Court made it clear that when dealing with mineral rights, informal arrangements can become legal liabilities.

    For concession holders, this should serve as a wake-up call. Every arrangement involving access to a concession should be properly documented, legally reviewed and, where required, approved by the relevant authorities.

    Good paperwork is no longer just good administration. It may be the difference between compliance and prosecution.

    Corporate Governance Is No Longer Just for Investors

    Another important message from the judgment concerns how mining companies are managed. Many people think corporate governance simply means holding board meetings, preparing annual reports or satisfying investors.

    This judgment tells us otherwise. The Court found that Akonta Mining was effectively being run through one individual rather than through proper corporate structures. That finding led the judge to “lift the corporate veil” a legal doctrine that allows the courts, in exceptional circumstances, to look beyond the company itself and hold those controlling it personally responsible.

    This is not something courts do lightly. But the judgment reminds company directors that the protection offered by incorporation is not absolute.

    If directors ignore corporate governance principles, make major decisions informally or fail to separate personal actions from company affairs, they may lose the legal shield that a company normally provides.

    For Ghana’s mining industry, this is perhaps one of the most important lessons emerging from the case.

    Reclamation Also Matters

    Interestingly, the judgment was not only about mining. The Court also addressed land reclamation. Many people assume that reclaiming mined land is simply an environmental activity. Legally, however, the Court held that reclamation is a regulated mine support service.

    That means the people carrying out such work must themselves be properly licensed under Ghana’s mining laws.

    This finding could have significant implications. Mining companies frequently engage contractors to reclaim degraded land, build roads, provide earthmoving services and undertake other technical work.

    Following this judgment, companies may need to conduct much greater due diligence before appointing contractors to perform these activities.

    Fighting Illegal Mining Requires Everyone

    There is another broader lesson that deserves attention. For years, Ghana’s fight against illegal mining has largely focused on arresting excavator operators, financiers and miners found working illegally in forests and river bodies.

    This judgment signals that the law is also prepared to examine the actions of concession holders themselves. If illegal mining occurs because someone knowingly opened the door, facilitated access or ignored legal requirements, the courts may hold that person accountable as well.

    That approach reflects an important shift. Illegal mining does not succeed because of miners alone. It often depends on networks of facilitators, financiers, equipment suppliers and individuals who create opportunities for unlawful activities to flourish.

    By interpreting the law broadly, the Court has reinforced the idea that accountability must extend throughout the entire chain.

    The Appeal Will Matter

    It is important to remember that this judgment is unlikely to be the final chapter. Appeals exist for precisely this reason to allow higher courts to review important legal questions.

    Several aspects of this decision are likely to receive close attention, including the interpretation of what constitutes “dealing with” a mineral right, the circumstances under which the corporate veil may be lifted and the extent to which circumstantial evidence can establish criminal responsibility.

    Whatever the outcome, the appellate courts will have an opportunity to provide greater clarity on these important questions. That clarity will benefit regulators, investors, mining companies and the wider public.

    The Bigger Picture

    Beyond the personalities, politics and public debate, this case reminds us of something fundamental. Ghana’s mineral resources belong to all of us. Companies that receive mining leases are not simply acquiring commercial opportunities; they are accepting significant legal responsibilities.

    Those responsibilities include complying with the law, protecting the environment, maintaining proper governance and ensuring that every activity undertaken on their concessions meets regulatory requirements.

    The Wontumi judgment is therefore about much more than one individual or one company. It is about defining the standards expected of every holder of a mining licence in Ghana. Whether the judgment is upheld or modified on appeal, one thing is already clear. The era when informal arrangements, undocumented decisions and weak corporate governance could comfortably coexist with mining licences is rapidly coming to an end.

    For the mining industry, the message could not be clearer: compliance is no longer optional it is the licence to operate.

  • Renewing Gold Fields’ Tarkwa Lease

    Renewing Gold Fields’ Tarkwa Lease

    Why Ghana Must Choose Strategic Negotiation Over Emotional Retaliation

    Recent calls by some public commentators, civil society leaders, politicians, and policy advocates for the Government of Ghana to refuse renewal of Gold Fields’ Tarkwa Mine lease have sparked an important national conversation. The concerns driving these calls, particularly the reports of xenophobic attacks against foreign nationals, including Ghanaians, in South Africa, are understandable. Every Ghanaian should condemn such attacks in the strongest possible terms. No individual should be targeted because of nationality, race, ethnicity, or origin.

    However, while public anger may be justified, the decisions of governments concerning investment, mining leases, and economic development cannot be driven by emotions. They must be based on facts, evidence, national interest, and long-term economic strategy.

    The issue before Ghana is therefore not whether xenophobia is wrong—it unquestionably is. The real question is whether refusing to renew Gold Fields’ lease at Tarkwa would serve Ghana’s economic interests and development objectives. The evidence suggests that it would not.

    Business Decisions Must Be Grounded in Facts

    Throughout the world, governments routinely separate diplomatic disagreements from investment decisions. Countries that attract sustainable investment do so because investors have confidence that contracts, licences, and leases will be administered based on law, policy, and commercial realities rather than political sentiments.

    If Ghana were to deny lease renewal solely because a company originates from a country where some citizens have engaged in unacceptable conduct, it would send troubling signals to the international investment community. Investors seek jurisdictions where regulatory decisions are predictable, transparent, and based on objective criteria.

    Ghana has built a strong reputation over decades as one of Africa’s most stable and investor-friendly mining destinations. That reputation should not be jeopardized by actions that may be perceived as punitive rather than commercially justified.

    Gold Fields Has Made Significant Long-Term Investments

    Any objective assessment of Gold Fields’ operations at Tarkwa must acknowledge the substantial investments the company has made over the years.

    When Gold Fields assumed responsibility for the mine in the early 1990s, annual production was approximately 24,000 ounces of gold. Through sustained investment in exploration, mine development, technology, infrastructure, environmental management, and human capital, production has increased dramatically to approximately 450,000 ounces annually.

    Such growth does not occur by accident.

    It reflects billions of dollars in cumulative investment, decades of technical expertise, continuous reinvestment, and a willingness to take long-term operational risks. The mine’s current productivity is the result of years of capital expenditure and strategic planning.

    Those advocating the non-renewal of the lease must answer an important question: would the Tarkwa Mine be at its current scale, efficiency, and production level without these investments?

    The answer is likely no.

    Ghana Has Benefited Significantly

    Beyond gold production, Gold Fields has contributed substantially to Ghana’s economy through taxes, royalties, employment, procurement, infrastructure development, community investments, and foreign exchange earnings.

    Thousands of Ghanaians are directly and indirectly employed through the company’s operations. Local contractors, suppliers, transporters, service providers, and communities depend on the economic activity generated by the mine.

    The mining sector remains one of Ghana’s largest sources of export revenue and foreign exchange. In an environment where the country continues to face fiscal pressures, balance-of-payment challenges, and a need for investment capital, decisions affecting major mining operations must be approached with extreme caution.

    The closure, disruption, or uncertainty surrounding a major operation such as Tarkwa could have consequences extending far beyond the mining sector.

    Lease Renewal Does Not Mean Accepting the Status Quo

    Supporting lease renewal should not be confused with accepting the existing arrangements without question.

    Indeed, the upcoming lease renewal presents an important opportunity for Ghana to negotiate a better deal.

    The government has every right—and indeed a responsibility—to pursue terms that maximize national benefits. This could include:

    • Increased state participation where commercially viable.
    • Enhanced opportunities for Ghanaian private investors.
    • Stronger local content commitments.
    • Expanded employment and skills development programmes.
    • Greater support for local suppliers and contractors.
    • Increased investment in host communities.
    • Improved environmental and mine closure provisions.
    • Stronger commitments to value addition and downstream processing.

    The objective should be to secure a larger share of the benefits while maintaining investor confidence.

    This is how mature resource-rich countries approach negotiations. They seek better terms through dialogue and commercial engagement, not through actions that undermine investment certainty.

    National Interest Requires Strategic Thinking

    Natural resource governance is most effective when decisions are guided by long-term national interests rather than short-term political pressures.

    A refusal to renew the lease without compelling operational, legal, environmental, or economic reasons could expose Ghana to unnecessary risks. It could trigger investor concerns, affect future mining investments, and create uncertainty about the country’s commitment to predictable business rules.

    Conversely, a well-negotiated renewal could achieve multiple objectives simultaneously:

    • Protect jobs.
    • Sustain production.
    • Maintain export earnings.
    • Increase Ghanaian participation.
    • Improve government revenues.
    • Preserve Ghana’s investment reputation.

    Such an outcome would represent a win-win solution for both Ghana and investors.

    The Xenophobia Issue Must Be Addressed Through Appropriate Channels

    The xenophobic attacks against Ghanaians and other foreign nationals in South Africa deserve strong condemnation and firm diplomatic engagement.

    The Government of Ghana should continue to engage South African authorities through diplomatic channels, regional institutions, and bilateral mechanisms to ensure the protection of Ghanaians living and working abroad.

    However, it would be a mistake to conflate the actions of criminal elements or extremist groups with the operations of a company that has invested in Ghana for decades and complied with the country’s regulatory framework.

    The appropriate response to xenophobia is diplomacy, law enforcement, and international cooperation—not economic retaliation against a company whose operations have contributed significantly to Ghana’s development.

    A Time for Calm and Responsible Leadership

    Public debate is healthy and necessary in any democracy. Citizens have every right to demand greater benefits from Ghana’s natural resources and greater accountability from mining companies.

    Yet leadership requires balancing public sentiment with economic reality.

    The challenge before government is not whether Gold Fields should continue operating under exactly the same terms. The challenge is how Ghana can leverage the lease renewal process to secure greater national benefits while maintaining the confidence of investors and preserving economic stability.

    Cool heads must therefore prevail.

    The Government of Ghana should approach the renewal of Gold Fields’ Tarkwa lease with firmness, strategic vision, and a commitment to maximizing national value. It should negotiate hard, insist on improved terms where justified, and ensure that Ghana receives a fair share of the benefits generated by its mineral resources.

    What it should not do is allow emotion to substitute for sound economic judgment.

    In matters of national development, wisdom lies not in retaliation, but in negotiation; not in symbolism, but in securing outcomes that advance the long-term interests of the Ghanaian people.

  • Before We Nationalize Our Resources, Can We Manage What We Already Own?

    Before We Nationalize Our Resources, Can We Manage What We Already Own?

    Across Ghana today, a growing chorus of voices is calling for greater national control over the country’s natural resources. Think tanks such as the Institute of Economic Affairs (IEA), policy commentators, civil society organisations and sections of the public have questioned whether Ghana is receiving a fair share of the benefits from its mineral wealth.

    Some have argued that government should not renew the Gold Fields Tarkwa lease when it expires in 2027. Others have called for Ghanaians to take control of the “commanding heights” of the mining sector. Still others have advocated various forms of resource nationalism, insisting that Ghana must own and directly operate a larger share of its mineral assets.

    These arguments are not without merit. After more than a century of mining, it is understandable that many citizens are asking difficult questions. Why do mining communities remain underdeveloped despite enormous mineral wealth? Why does Ghana continue to export raw resources while importing finished products? Why are local participation and ownership still limited in key sectors of the economy?

    These are legitimate concerns that deserve serious national discussion. However, before we rush toward resource nationalisation, there is an equally important question we must ask ourselves: Have we demonstrated the capacity to effectively manage the mining assets we already own? This question may be uncomfortable, but it is necessary.

    The recent announcement that state-owned Prestea Sankofa Gold Limited (PSGL) has secured a strategic partnership with China’s Guangzhou Hozdo Group provides an opportunity for reflection.

    PSGL is not a private foreign-owned company. It is a state-owned mining enterprise under the Ghana National Petroleum Corporation (GNPC). Yet despite operating in one of the world’s most attractive gold jurisdictions, the company has struggled with operational challenges, aging equipment, financial constraints, production setbacks and infrastructure deficiencies.

    According to recent reports, the company has gone months without production and now requires external financial, technical and equipment support to revive operations and position itself for future growth. Yet we have the men to run the mining industry.

    There is no shame in seeking strategic partnerships. In fact, partnerships are often necessary for growth and sustainability. The more important question is this: If we are struggling to successfully operate and expand a state-owned mine today, what gives us confidence that we can suddenly manage a much larger portfolio of nationalised mining assets tomorrow?

    This is not an argument against Ghanaian ownership. It is an argument for realism. History offers valuable lessons.

    In the 1980s and early 1990s, Ghana owned and controlled a significant number of state enterprises across mining, manufacturing, transportation, agriculture, banking and other sectors. Many of these enterprises were established with noble intentions to promote national development, create jobs and ensure local control of strategic assets.

    Unfortunately, many eventually collapsed under the weight of political interference, weak governance structures, inefficiency, inadequate capitalisation and poor management practices.

    The result was a wave of divestitures, restructurings and privatisations. The lesson is not that state ownership is inherently bad. Nor is the lesson that foreign investment is inherently good. The lesson is that ownership alone does not create value.

    Competence does. Governance does. Accountability does. Technology does. Capital does. And management does.

    Countries that have successfully leveraged their natural resources have not merely focused on ownership. They have focused on building institutions.

    Norway’s success in petroleum did not begin with nationalisation. It began with institution-building, regulatory excellence, technical capacity development and long-term strategic planning.

    Botswana’s success in diamonds was not simply about ownership. It was about disciplined governance, prudent management and strong partnerships that gradually increased national participation.

    Even Saudi Arabia’s success with Aramco was built on decades of technical capacity transfer, knowledge acquisition and institutional development.

    In every successful case, capacity preceded control. Which Ghana is already working. Ghana must learn from these examples. Rather than reducing the national conversation to whether a lease should or should not be renewed, we should be asking broader questions.

    Do we have access to the billions of dollars required for mine development, expansion and exploration? Do we have governance structures strong enough to insulate state-owned enterprises from political cycles? Do we have the technology to operate the various ore bodies in Ghana? Can Ghanaians alone mine all the gold reserve in Ghana? Do we have the managerial discipline necessary to compete in a highly sophisticated global mining industry? Do we have a clear national blueprint for increasing Ghanaian ownership and participation over the next twenty years?

    Unfortunately, the answer to many of these questions remains uncertain. This is where the conversation needs to evolve. Instead of focusing exclusively on nationalisation, Ghana should focus on creating a comprehensive national resource ownership strategy.

    Such a strategy should include Building Strong State-Owned Enterprises. Prestea Sankofa Gold Limited should become a national laboratory for excellence in mining management. Its success or failure will provide valuable lessons for future state participation in the sector.

    Expanding Ghanaian Equity Participation: Government should explore mechanisms that allow pension funds, insurance companies, mutual funds and ordinary citizens to acquire stakes in mining assets through transparent public investment structures.

    Strengthening Local Content: The real economic benefits of mining often extend beyond ownership of the mine itself. Ghanaian companies should build factories in Ghana to meet the mining input demand and not just import products or fronting for foreigners as has been the case mostly.

    Continue Developing Technical Capacity: Universities, technical institutions and mining companies should collaborate to produce world-class mining engineers, geologists, metallurgists, environmental scientists and mining executives.

    Establishing a Sovereign Resource Investment Framework: Rather than focusing solely on ownership of individual mines, Ghana should strategically invest mining revenues into productive sectors that generate long-term economic diversification.

    Improving Governance: State participation without strong governance will only create new problems. Transparency, accountability and professional management must be non-negotiable.

    The ultimate goal should not be nationalisation for its own sake. The goal should be national prosperity. If greater state ownership contributes to prosperity, then it should be pursued. If strategic partnerships deliver better outcomes, they should also be considered. If hybrid ownership structures provide the optimal balance, they should not be dismissed.

    What matters is not ideology. What matters is results. Ghana’s mineral resources belong to the people of Ghana. That principle is already established under our Constitution. The challenge before us is not simply who owns the resources on paper. The challenge is who can create the greatest value from those resources for current and future generations.

    Before we demand control of larger assets, we must demonstrate excellence in managing the assets already under our control. Before we seek to take over the commanding heights of the economy, we must build the institutions capable of governing those heights effectively. And before we embrace resource nationalism as a solution, we must first develop a credible blueprint for success.

    Otherwise, we risk replacing one set of frustrations with another. The debate Ghana needs is therefore not simply about ownership. It is about capacity. It is about governance. It is about technology. It is about strategy. And ultimately, it is about whether we are prepared to transform our natural resource wealth into lasting national prosperity. That is the conversation worth having.

  • Beyond Prison Feeding Budgets

    Beyond Prison Feeding Budgets

    Turning a National Challenge into a Food Security Opportunity

    The recent disclosure by the Minister for the Interior, Muntaka Mohammed-Mubarak, that Ghana spends approximately GHC40 million annually on feeding prison inmates has reignited discussions about the sustainability of funding public institutions. The Minister’s revelation that prison feeding alone costs about GHC10 million every quarter, coupled with his observation that the current allocation remains woefully inadequate, highlights a challenge that extends beyond the walls of the country’s correctional facilities.

    While government deserves commendation for increasing the daily feeding allocation for inmates from GHC1.80 to GHC5, the reality remains that GHC5 is insufficient to provide three nutritious meals for an adult. The challenge therefore should not be viewed merely as a budgetary issue requiring increased allocations every year. Rather, it presents an opportunity for Ghana to adopt a long-term, self-sustaining strategy that addresses prison feeding, food security, job creation, and agricultural development simultaneously.

    A New Vision for Prison Agriculture

    One practical and sustainable solution would be for government to direct all Metropolitan, Municipal, and District Assemblies (MMDAs) to allocate suitable lands within their jurisdictions to the Ghana Prisons Service for agricultural production. These lands could be dedicated to the cultivation of staple crops such as maize, rice, cassava, yam, vegetables, and legumes, while also supporting livestock, poultry, and fish farming projects.

    This approach is not new. Around the world, prison farms have been used successfully to provide food for correctional facilities while equipping inmates with valuable vocational and agricultural skills. In Ghana, a well-structured prison farming programme could significantly reduce the recurrent cost of feeding inmates while contributing meaningfully to rehabilitation and reintegration efforts.

    Beyond producing food, such initiatives would instill discipline, provide practical skills training, and prepare inmates for productive lives after their release. Instead of being viewed solely as a cost centre, the prison system could become a contributor to national food production.

    Strengthening Food Storage Through Strategic Silos

    Agricultural production alone, however, is not enough. Ghana continues to lose substantial quantities of food annually due to inadequate storage infrastructure. Farmers often experience bumper harvests only to suffer significant post-harvest losses because they lack proper storage facilities.

    To address this challenge, government should invest in the construction of modern silos and storage centres across the country. Food produced on prison farms and by surrounding communities could be stored safely for use throughout the year, reducing waste and ensuring a consistent supply of food to prisons and our public schools under the school feeding programme.

    A strategic food reserve system would not only stabilize supplies but also reduce dependence on emergency purchases during periods of scarcity and rising food prices.

    Investing in Agro-Processing to Eliminate Food Gluts

    In the medium to long term, government should complement production and storage efforts by establishing joint ventures companies with multinationals for agro-processing facilities in major agricultural zones. Every year, farmers lose substantial income because excess produce cannot be processed and preserved.

    Tomatoes, fruits, vegetables, cassava, maize, and other crops often go to waste during peak harvest seasons due to limited processing capacity. By investing in processing plants, government can transform surplus produce into products with longer shelf lives, including canned foods, fruit concentrates, dried vegetables, starches, and animal feed.

    Such investments would reduce food gluts, increase farmers’ incomes, create employment opportunities, and ensure a reliable food supply for prisons, schools, hospitals, military barracks, and other state institutions.

    The Critical Role of the Ministry of Food and Agriculture

    For this ambitious vision to succeed, the Ministry of Food and Agriculture (MoFA) must play a central coordinating role. The success of prison agriculture will depend on technical expertise, modern farming practices, and continuous supervision.

    The Ministry should deploy Agricultural Extension Officers to work closely with prison authorities across the country. These officers would provide professional support in areas such as crop selection, soil management, climate-smart agriculture, irrigation systems, pest and disease control, livestock production, and post-harvest management.

    Their expertise would help maximize productivity and ensure that prison farms operate as viable agricultural enterprises rather than symbolic projects.

    More importantly, this initiative presents a significant opportunity for job creation. Every year, universities, agricultural colleges, and technical institutions produce graduates with specialized agricultural knowledge who struggle to secure employment. Expanding extension services to support prison farms, district agricultural projects, storage facilities, and processing plants would create new opportunities for agricultural professionals across the country.

    This would not only strengthen Ghana’s agricultural extension system but also help bridge the gap between academic training and practical application. Agricultural officers attached to prison farms could also serve as resource persons for nearby farming communities, helping disseminate best practices and modern technologies to local farmers.

    A National Development Strategy

    The benefits of such a policy would extend far beyond the Ghana Prisons Service. A coordinated system linking agricultural production, storage, processing, and institutional consumption could support school feeding programmes, hospitals, security services, and other public institutions.

    Increased food production would strengthen rural economies, create jobs, reduce food inflation, enhance food security, and lessen Ghana’s dependence on imported food products. It would also support government efforts to promote youth employment and modernize the agricultural sector.

    Most importantly, it would transform what is currently a recurring expenditure into a productive national investment.

    Conclusion

    The debate about prison feeding should not focus solely on increasing budgetary allocations. While adequate funding remains important, Ghana must embrace innovative and sustainable solutions that address the root causes of food insecurity and rising institutional feeding costs.

    By directing district assemblies to provide land for prison agriculture, investing in modern storage facilities, developing agro-processing industries, and strengthening agricultural extension services through the Ministry of Food and Agriculture, government can create a self-sustaining system that benefits inmates, farmers, agricultural professionals, and the nation as a whole.

    This proposal offers a rare opportunity to tackle several national challenges simultaneously: reducing the cost of feeding public institutions, creating jobs for agricultural professionals, minimizing post-harvest losses, boosting domestic food production, and strengthening national food security.

    The question before policymakers is therefore not whether Ghana can afford to pursue such a strategy, but whether Ghana can afford not to.

  • Beyond Gold

    Beyond Gold

    Why Ghana Must Build Strategic National Reserves for the Next Global Crisis

    The world is entering an era where crises are no longer exceptions; they are becoming the norm. The Russia-Ukraine war exposed vulnerabilities in global food, fertilizer, energy, and supply chains. The ongoing tensions and military confrontations involving Iran have once again demonstrated how quickly global energy markets can be disrupted. The COVID-19 pandemic revealed the fragility of international logistics systems. Climate change continues to threaten food production and water security across continents.

    For countries like Ghana that basically depend heavily on imports and global supply chains, every geopolitical shock quickly becomes an economic shock. Ghana is not immune. While Ghana has rightly embarked on the Ghana Accelerated National Reserve Accumulation Policy (GANRAP), aimed at building significant gold reserves, the country must recognize that national resilience cannot be built on gold reserves alone.

    Gold reserves provide monetary stability. However, they do not feed citizens during food shortages. They do not fuel industries during energy disruptions. They do not supply critical mining equipment when international supply chains collapse. The time has come for Ghana to think beyond traditional economic management and adopt a comprehensive National Strategic Reserve Framework that protects the country against future global shocks.

    The New Global Reality: Strategic Reserves Are the New National Insurance

    Many countries have learned hard lessons from recent crises. The United States maintains one of the world’s largest Strategic Petroleum Reserves. China has built massive stockpiles of grain, rare earth minerals, fuel, and industrial inputs. India maintains strategic food reserves capable of supporting hundreds of millions of people. Saudi Arabia, the UAE, Singapore, and South Korea have invested heavily in strategic storage and domestic industrial capabilities. These countries understand a simple principle: National resilience is not built during a crisis. It is built before a crisis. Countries that wait until supply chains break down are often forced to pay exorbitant prices, borrow heavily, or suffer severe economic disruptions. Ghana cannot afford bending its knees always in times of crisis.

    Gold Reserves Are Necessary but Not Sufficient

    The decision to accumulate gold reserves is commendable. Gold strengthens confidence in the national currency, improves foreign reserve positions, and provides a hedge against global financial instability.

    However, if a global conflict disrupts food imports, fertilizer supplies, petroleum shipments, pharmaceutical supplies, or mining equipment procurement, gold alone will not solve those challenges. A resilient economy requires reserves across multiple strategic sectors.

    Building a National Strategic Reserve Architecture

    Ghana should consider establishing five interconnected strategic reserve pillars.

    • National Food Security Reserve

    Food security is national security. Ghana should establish modern strategic grain reserves capable of sustaining the population during prolonged supply disruptions. These reserves should include Maize, Rice, Sorghum, Millet, Soybeans, and Vegetable oils. We have enough land, technology and water to do this. We can have the Ministries of Food and Agriculture, Environment, Science and Technology and Interior collaborate to get this started based on research and science. Storage facilities should be modernized using advanced preservation technologies to minimize losses. Additionally, strategic fertilizer reserves should be maintained to support domestic food production during global supply disruptions. The objective should be clear: No Ghanaian should face food insecurity because of a war occurring thousands of kilometers away.

    • Strategic Energy Reserve

    Energy remains the lifeblood of modern economies. Despite Ghana’s growing oil and gas sector, the country remains exposed to international price volatility and supply disruptions. Ghana should establish strategic petroleum reserves, diesel reserves, aviation fuel reserves, LPG reserves and emergency gas storage systems. A reserve target of six to twelve months for critical fuel products would significantly enhance national resilience. Not the five to six weeks reserve we were told when the US-Israel-Iran war started in February. Simultaneously, investments in renewable energy storage technologies should be accelerated. The future strategic reserve is not only fuel in tanks but also electricity stored in batteries.

    • Mining and Industrial Supply Chain Reserve

    Mining contributes significantly to Ghana’s export earnings and fiscal revenues. Yet many critical mining inputs are imported. A disruption in global logistics could affect explosives, industrial chemicals, drilling equipment, heavy machinery parts, conveyor systems and electrical components. Ghana should work with mining companies to establish strategic in-country factories and stockpiles of critical mining inputs. This would ensure continuity of operations even during major international disruptions. The same principle should apply to other strategic industries, including manufacturing, telecommunications, healthcare, and transportation.

    • National Critical Minerals and Industrial Metals Reserve

    As the global energy transition accelerates, critical minerals are becoming strategic assets. Ghana possesses significant mineral resources, including Gold, manganese, bauxite, lithium and iron ore prospects. Rather than exporting all production immediately, Ghana should consider retaining portions of strategic minerals as national reserves. Countries that control critical minerals will increasingly shape the future global economy. The next generation of economic power may not be determined solely by oil reserves but also by control over battery minerals, industrial metals, and rare earth supply chains.

    • Strategic Medical and Emergency Reserve

    The COVID-19 pandemic exposed severe weaknesses in global medical supply chains. Ghana should maintain strategic reserves of essential medicines, vaccines as well as strengthen the Centre for Scientific Research into Plant Medicine, personal protective equipment, emergency medical equipment and water treatment chemicals. Every crisis eventually becomes a public health challenge. Prepared nations save lives and reduce economic losses. Let’s build a strong pharmaceutical industry based on plant medicine which we are all know. Let’s have a national policy and strategic target for medical and emergency reserve. It will save us all whether we are NDC or NPP because medical emergency does not know who NDC is or NPP. Let’s work for our greater good and not leap service to our nation and political parties.

    Reviving Defence Holdings as a Strategic Industrial Engine

    Perhaps the most transformative opportunity lies in rebuilding and modernizing the Ghana Armed Forces’ Defence Industries Holding structure. Historically, military-linked industries around the world have often served as catalysts for industrial development. Examples include South Korea, Israel, Turkey, Singapore, Iran and China. In these countries, defence-linked industries became centers for innovation, manufacturing, engineering, and technology development. Ghana should consider establishing Defence Holdings factories focused on Agricultural Equipment Manufacturing for tractors, irrigation systems, harvesting equipment and farm implements. Industrial Fabrication for steel products, mechanical components and industrial machinery. Energy Technologies for solar systems, battery assembly and power storage solutions. Advanced Manufacturing for drones which can be learnt from Iran, robotics, sensors and communication systems. Strategic Logistics for vehicle assembly, fleet maintenance and emergency transport systems.

    These industries would serve both civilian and defence purposes while creating jobs, transferring technology, and reducing import dependence.

    Building the Industries of the Future

    The next global economic competition will not be won by countries that simply export raw materials. It will be won by countries that master strategic technologies. Ghana should identify and invest in future industries such as Artificial Intelligence, drone technology, advanced materials, battery manufacturing, semiconductor assembly, cybersecurity, defence technologies and renewable energy systems.

    A dedicated Strategic Industries Development Fund could be established using portions of mineral revenues, sovereign wealth resources, and public-private partnerships.

    Financing the Strategic Reserve Agenda

    The immediate question is obvious: How will Ghana pay for all this? The answer lies in a phased approach. Funding sources could include mineral royalties, sovereign wealth mechanisms, gold reserve-backed financing, public-private partnerships, pension fund investments, infrastructure bonds and development finance institutions. At least Ghana is not under any sanction like Iran so we should be able to do this and not just keep talking as we always do. Strategic reserves should be viewed not as expenditures but as national insurance policies. Countries willingly pay insurance premiums because they understand the cost of being unprepared. The same principle applies to national resilience.

    A New National Vision

    For decades, economic discussions in Ghana have focused on growth. Growth is important. However, the future belongs to countries that combine growth with resilience. The most successful nations of the twenty-first century will not necessarily be those that avoid crises. They will be those that are best prepared for them. The Ghana Accelerated National Reserve Accumulation Policy is an important first step. But the next phase must be broader and more ambitious. Ghana must build food reserves. Ghana must build energy reserves. Ghana must build industrial reserves. Ghana must build strategic technologies. Ghana must build future industries. Above all, Ghana must build national resilience.

    The question is no longer whether another global crisis will occur. The question is whether Ghana will be prepared when it does. History suggests that nations which prepare during periods of relative stability emerge stronger from periods of uncertainty. The time to prepare is now.

  • Mining, Ownership and Development

    Mining, Ownership and Development

    The Questions We Must Honestly Ask Ourselves

    Like many Ghanaians, I understand and appreciate the emotions driving the current debate about the future of our mining industry. When people look at our gold wealth and still see struggling communities, poor roads, unemployment, and underdevelopment, it is natural to ask whether Ghana is truly benefiting enough from its resources.

    The concerns raised by the Institute of Economic Affairs (IEA) therefore deserve attention. We should absolutely have a national conversation about how mining can deliver more value to our people. But as we have this discussion, we must also be careful not to oversimplify a very complex issue.

    The question is not simply whether a mine should be foreign-owned or Ghanaian-owned. The more important question is: what exactly changes for the ordinary Ghanaian if ownership changes?

    If tomorrow a Ghanaian company takes over a mine like Tarkwa, does that automatically mean the company will pay more taxes than the current operator? Will it voluntarily pay higher royalties to government? Will it reduce its operational costs and somehow make mining cheaper? Will it spend more of its profits on community development while still satisfying banks, investors, lenders, and shareholders? These are not political questions. They are business realities.

    Whether a mining company is Ghanaian-owned, South African-owned, Canadian-owned, or Australian-owned, the economics of mining do not change. Mining companies are businesses. They must raise capital, manage costs, pay workers, satisfy investors, and remain profitable to survive.

    In fact, if the national objective is for Ghana to derive greater long-term financial benefit from its mineral resources, then another important question arises: why shouldn’t government consider increasing equity participation in mining operations instead of focusing primarily on taking over mines or rejecting lease renewals?

    Equity participation allows the State to directly share in the upside of profitable mining operations through dividends and capital appreciation, while still preserving investment stability and attracting technical expertise and financing. If government believes certain mines are exceptionally profitable and strategic, then negotiated equity participation may provide a more practical and sustainable pathway to increasing national benefit than creating uncertainty around security of tenure.

    This is how many successful resource-rich countries balance sovereignty with investment competitiveness.

    That is why simply changing ownership does not automatically solve the development problem. And this brings us to another important question we often avoid asking honestly: who is primarily responsible for developing our communities?

    Should mining companies support local development? Absolutely. And many already do. The Gold Fields Ghana Foundation, for example, has reportedly invested almost US$110 million into roads, schools, health facilities, agriculture, water systems, and youth programmes in its host communities over the years.

    At the same time, the mining companies operating in Tarkwa reportedly paid about GHS5.1 billion in taxes in 2024 alone. So, we must also ask: after government collects these revenues, how much actually goes back into the mining communities?

    If roads are poor, hospitals are inadequate, and communities remain underdeveloped, can we place the entire responsibility on mining companies while central government retains most of the royalties and tax revenues in Accra? This is where the conversation becomes uncomfortable, but necessary.

    The development of communities is fundamentally the responsibility of the State. Private companies can complement development. They cannot replace government.

    Another difficult question we must ask ourselves is this: why are many people interested in taking over mines that have already been explored, developed, financed, and made profitable, but there is far less enthusiasm for investing in exploration itself?

    Mining starts long before production. Companies spend years sometimes decades searching for minerals, conducting geological studies, undertaking environmental assessments, building infrastructure, and raising billions of dollars in financing before a mine even becomes operational. Many exploration projects fail entirely and never become mines.

    So, if we truly want greater Ghanaian participation in mining, shouldn’t we also be encouraging Ghanaian investment in exploration and mine development from the beginning, instead of waiting until someone else has already taken the risk?

    This is not an argument against Ghanaian ownership. Far from it. Every Ghanaian should want to see strong local mining companies competing globally. And thankfully, we are beginning to see that happen gradually.

    But sustainable Ghanaian participation cannot be built on the perception that Ghana changes the rules once investors have already committed capital under existing laws. That approach may create short-term political excitement, but it could also damage investor confidence and make it harder not easier for both foreign and Ghanaian companies to raise long-term financing in the future.

    We must also remember our own history. Ghana experimented with heavy state control of mining in the past, and the results were declining production, inefficiency, underinvestment, and eventually the collapse of much of the sector. That history does not mean we should reject reform. But it should remind us that ownership alone is not a magic solution.

    Countries that have successfully benefited from mining including Botswana, Canada, Australia, and Chile did not do so simply by excluding foreign participation. They succeeded because they built strong institutions, stable policies, transparent governance systems, and competitive investment environments.

    At the end of the day, this debate should not become a contest between patriotism and investment. We can pursue greater Ghanaian participation while still maintaining policy stability and attracting capital.

    The real questions we should be asking are:

    • How do we ensure more mineral revenues reach mining communities?
    • How do we improve accountability in how royalties are used?
    • How do we help Ghanaian companies invest from exploration to production?
    • How do we create long-term mining policies that survive politics and governments?
    • How do we use mining to genuinely transform local economies?

    Those are the questions that will determine whether our mineral wealth truly benefits future generations. Because in the end, the issue is not just who owns the mine. The issue is whether the system itself works for Ghana.

  • Beneficial Ownership

    Beneficial Ownership

    Maximising the Benefits of Mining Beyond Ownership

    For over a century, mining has been one of Ghana’s economic heavyweights. It contributes over 7% to GDP, brings in more than US$6 billion in export earnings every year, and keeps thousands of people employed, directly and indirectly.

    On paper, that sounds like a success story. But if we’re being honest, it also feels like we’ve been sitting on a gold mine and still somehow checking our pockets to see where the money went. Because despite all these impressive numbers, the full developmental potential of mining in Ghana is still not being fully realised.

    Ownership Is Good… But It’s Not the Whole Story

    Lately, there’s been a lot of discussion about increasing Ghana’s ownership in mining companies. And yes, ownership matters, it gives control, influence, and a share of profits.

    But here’s the thing: ownership alone won’t industrialise Ghana. Dividends go up and down with gold prices. Equity returns depend on company performance. Some years are good, some years, not so much.

    So, if we rely only on ownership, we’re basically saying, “We’ll wait and see how the market behaves.” And as we all know, the market has a personality of its own, it doesn’t always send prior notice. The real opportunity lies beyond ownership—in what we build around mining.

    Follow the Money—It’s Already There

    Every year, mining companies in Ghana spend about US$2.5 billion on goods and services from machinery and chemicals to safety gear and maintenance.

    Now here’s the painful part: a large chunk of that money goes abroad. In simple terms, we dig the gold here then send money out to buy what we need to dig more gold. If Ghana could produce even 40% of these inputs locally, we could retain around US$1 billion every year.

    That’s not small change; that’s serious economic power. And interestingly, that amount could exceed what we might gain from tweaking royalties or increasing minority ownership stakes.

    So maybe the real question is not “Who owns the mine?” But rather, “Who supplies the mine?”

    Let’s Move Beyond Supplying Lunch and Transport

    Ghana already has over 400 local suppliers supporting the mining sector. That’s encouraging. But many of them are concentrated in logistics and distribution important, yes, but not where the biggest value lies. The next step is clear: we must move into manufacturing, engineering, and technical services.

    Because that’s where the real money is, real skills are built, and the real jobs are created. It’s the difference between delivering equipment and actually producing it.

    Policy Alignment: Everyone Must Row in the Same Direction

    Here’s where things get serious. Mining alone cannot drive industrialisation. Trade policy, investment strategy, and industrial planning all need to be aligned. In simple terms, the Ministry of Trade, Agribusiness and Industry, Ghana Investment Promotion Centre, Minerals Commission, and industry players must stop working like separate WhatsApp groups and start operating like one coordinated team.

    That means incentives for local manufacturing, guaranteed markets through mining companies, industrial zones built near mining areas like Tarkwa and Obuasi and deliberate efforts to attract investors into mining-related industries.

    Because without coordination, we risk having policies that look good on paper but don’t deliver much in practice.

    Let’s Talk About Real Opportunities Not Just Ideas

    The opportunities in mining-linked industries are not abstract; they are practical and achievable. Some of these are equipment manufacturing such as fabricating drill rods, bolts, and spare parts locally. Chemical Production such as producing inputs like cyanide and ammonium nitrate instead of importing everything and lubricants and Oils. Others include protective Gear: Supplying boots, uniforms, and safety equipment (and yes, maybe finally making PPE that fits properly) as well as Engineering Services: Building strong local fabrication and maintenance clusters. These are not just industries they are job creators, skill builders, and export opportunities.

    Ghana as a Regional Mining Supply Hub

    Here’s where it gets even more interesting. West Africa imports about US$10 billion worth of mining inputs every year. If Ghana captures just 10% of that market, that’s US$1 billion in exports. Think about that for a second, we could move from just exporting minerals to exporting the tools and services that power mining across the region. That’s a completely different level of economic positioning.

    What Could This Mean for Ghana?

    If done right, the impact could be transformational: up to 50,000 jobs created; increased GDP contribution from mining-linked industries; more stable and diversified tax revenues and stronger regional trade and influence.

    In other words, mining stops being just an extractive sector and becomes a development engine.

    It’s Not Just About Who Owns the Gold

    The future of mining in Ghana is not just about ownership percentages or royalty rates. It’s about what the economy builds because of mining. Because at the end of the day, gold in the ground is valuable, gold in export is useful but industries built around gold? That’s transformational. So yes, ownership matters. But if we stop there, we’re leaving too much on the table. And frankly, for a country blessed with so many resources, leaving value on the table is one thing we can no longer afford to do.

  • Ghana Learn from Iran

    Ghana Learn from Iran

    Ghana Can’t Keep Catching Every Global Cold – It’s Time to Build Its Own Immunity

    Ghana has a habit many of us can relate to having plenty of potential but still depending on others when things get tough. The country is blessed with gold, cocoa, oil, diamond, manganese, weather to name a few and a relatively stable political environment yet every time there’s a global crisis, the economy seems to catch a cold.

    COVID-19 came, and everything slowed down. The Russia–Ukraine war followed, and suddenly fuel and food prices shot up. Now tensions in the Middle East are making global markets jittery again. It’s almost like Ghana is seated in a cinema watching a movie it didn’t pay for but still feeling every punch, explosion, and plot twist.

    The “We’ll Import It” Mindset

    For years, Ghana has leaned heavily on imports of fuel, machinery, finished goods, even basic household items and industrial inputs. It’s a bit like owning a farm but buying your food from the market every day. Convenient? Yes. Sustainable? Not really. Meanwhile, some countries didn’t have that luxury. Take Iran.

    Now, whatever one’s political views, there’s no denying one thing: Iran has had to survive under pressure. Decades of sanctions didn’t give it the option of saying, “Let’s just import it.” Instead, it had to build things itself steel industries, pharmaceuticals, universities, and yes, a surprisingly advanced defence sector.

    They didn’t necessarily choose self-reliance. They were forced into it. But in that pressure, they adapted. Ghana, on the other hand, still has the chance to choose it.

    From Galamsey to “High-Tech Sey”

    Let’s bring it home—illegal mining, or galamsey. I know some drones have already been deployed by the Minerals Commission, but. This isn’t just a rural nuisance anymore. It’s a full-blown national headache. Rivers are turning brown, forests are disappearing, and enforcement teams sometimes look like they’re playing hide-and-seek with people who clearly aren’t hiding very well.

    And then there’s the uncomfortable truth we don’t say loudly enough: in some cases, politicians and local leaders have become both the arsonists and the firefighters at the same time publicly condemning galamsey while quietly enabling or benefiting from it behind the scenes. That contradiction is part of why the fight feels like running in circles.

    We’ve tried task forces. We’ve tried bans. We’ve tried burning excavators, which, frankly, feels like setting your own TV on fire because of bad programming. Yet the problem persists.

    Now imagine this: instead of chasing illegal miners on foot, Ghana deploys drones quietly flying over hotspots, capturing real-time footage, identifying activity patterns, and guiding targeted interventions. No drama, no guesswork.

    Iran, interestingly, has become known for developing relatively low-cost but effective drone technology. Not the Hollywood kind, but practical, adaptable systems used for surveillance and monitoring.

    And let’s be honest if drones can keep tabs on complex battle zones, they can probably handle a few excavators in a forest.

    Security: Better Early Than “Sorry”

    Ghana has long been seen as an island of peace in a rough neighbourhood. But that neighbourhood is getting noisier.

    Terrorist activity in parts of the Sahel is creeping closer. Burkina Faso isn’t that far away. And as we all know, trouble doesn’t usually send a formal invitation before arriving.

    The reality is simple: Ghana needs to strengthen its security not because something has happened, but because something could.

    Here again, technology matters. Surveillance drones, intelligence systems, rapid-response capabilities, these are no longer luxuries. They’re essentials.

    Iran’s defence approach, shaped by years of external threats, focuses less on size and more on smart, flexible systems. That’s something a country like Ghana, with limited resources but big responsibilities, can learn from.

    It’s Not About Picking Sides

    Now, before anyone starts imagining dramatic geopolitical headlines, let’s be clear: engaging Iran doesn’t mean Ghana is suddenly switching teams like a football transfer window surprise. This is not about East versus West. It’s about Ghana doing what works for Ghana.

    Countries all over the world quietly learn from each other, technology here, strategy there, expertise somewhere else. The smartest nations are not the loudest; they’re the most practical.

    If Iran has figured out how to build industries under pressure, why not study that?
    If they’ve developed cost-effective drone systems, why not explore that? It’s called learning, not loyalty.

    The Bigger Picture: Building Our Own Strength

    At the heart of this conversation is something deeper than defence or diplomacy. It’s about mindset. Do we continue reacting to global events, or do we start preparing for them?
    Do we keep importing solutions, or do we begin building them?

    Iran’s story, complicated as it is, offers one key lesson: when you don’t have the option to depend on others, you figure things out. Ghana doesn’t need to wait until it’s forced into that position.

    A Little Courage Goes a Long Way

    Engaging Iran carefully, strategically, and transparently could open doors in defence technology, industrial development, and technical education. Not as a silver bullet, but as part of a broader effort to stand on our own feet. Because at the end of the day, Ghana’s biggest challenge isn’t a lack of resources. It’s the gap between what we have and what we choose to do with it.

    And maybe, just maybe, it’s time we stopped watching the global movie passively and started writing a bit more of our own script.