Nana Dr. Amanpene Boateng Twum II, the Chief of Nyinahin, is calling for a “fair chance” for indigenous Ghanaian companies as the nation moves forward with mining the country’s largest bauxite reserves.
A former board member of the Ghana Integrated Aluminium Development Corporation (GIADEC), Nana Dr. Twum II is advocating for a policy shift that prioritises local firms over foreign entities, provided they meet the required technical and financial benchmarks.
Indigenous Participation
The Chief’s remarks come amid rising scrutiny of GIADEC’s leadership.
Critics and industry insiders have alleged that the corporation is favouring expatriate companies for the three primary blocks of the Nyinahin deposit, potentially sidelining qualified local bidders.
“If a Ghanaian company has the capacity, it deserves the opportunity,” Nana Dr. Twum II stated, emphasising that while competence must remain the priority, local ownership is essential for national economic health.
He argued that foreign-dominated mining often leads to capital flight, where profits are sent abroad.
In contrast, indigenous firms tend to reinvest earnings back into the Ghanaian economy, fuelling local development and sustainable job creation.
The “Awaso Example”
To demonstrate that Ghanaian firms are capable, the Chief pointed to the Ghana Bauxite Company (GBC) in Awaso.
His assessment highlighted a stark contrast between previous and current management:
- Past Performance: Under previous foreign operators, the mine struggled and frequently recorded losses.
- Current Success: Since Ofori-Poku Company Limited took an 80 per cent stake (with the government holding 20 per cent), the mine has seen a turnaround in efficiency and profitability.
- Social Impact: Local ownership has led to increased employment for Ghanaian youth in operations, security, and administration, alongside improved community relations.
Nyinahin’s Strategic Importance
The Nyinahin bauxite deposit is the crown jewel of Ghana’s industrial strategy, with estimated reserves reaching one billion tonnes.
Milestone Significance
- Discovery: Known for decades but long hindered by infrastructure gaps.
- 2018 (GIADEC): The corporation was established to build an “Integrated Aluminium Industry.”
- Current Status: Divided into blocks to allow for phased, commercially viable development.
Political and Economic Context
The debate over “Gross National Product” (GNP) versus “Gross Domestic Product” (GDP) has also entered the conversation.
Former President John Dramani Mahama has been a vocal advocate for empowering citizens to own the means of production, arguing that true economic growth is measured by the wealth retained within the country’s borders.
As GIADEC moves to finalise contracts for the Nyinahin blocks, traditional leaders and local observers remain watchful, demanding that the “Ghanaian-first” rhetoric matches the reality of contract awards.
By: Starrfm.com.gh
