The President of the National House of Chiefs, Ogyeahoho Yaw Gyebi II, has called on the government to ensure more Ghanaians own shares in mining companies to help improve the fortunes of the country.
According to the Sefwi Anhwiasohene, most mining companies in Ghana are owned by foreigners and proceeds are always sent outside the country, which negatively affects the country’s economy.
Ogyeahoho Yaw Gyebi II said allowing the majority of Ghanaians to own mining companies will provide the economy with a significant boost.
Ogyeahoho Yaw Gyebi II made this statement at his palace when the Ghana Integrated Aluminium Development Corporation (GIADEC) disclosed to him that the Ghana Bauxite Company is now fully Ghanaian-owned, as a businessman has bought 80% shares from the Chinese.
Ogyeahoho Yaw Gyebi II also urged GIADEC to as a matter of urgency ensure the bauxite mined in Awaso and other parts of the country is refined to ensure value addition.
“For years, foreigners have been mining the gold, so we were excited when we heard that Ghanaians are taking over in the Central Region. It was encouraging to have the Ghanaians with 5 percent shares, but that 5 percent shares were later taken away from them, and no Ghanaian has a percentage in Newmont.”
“Now a Ghanaian has a percentage in Chirano and Bibiani. This will encourage other Ghanaians to go and acquire shares in Obuasi and Talensi. We have to ensure the commanding height of the economy in the hands of the Ghanaian,” Ogyeahoho Yaw Gyebi II said.
Reacting to this, the Chief Executive Officer of GIADEC, Michael Ansah, said the company is working frantically to ensure it starts refining bauxite as early as possible, to help promote development in the area.
