By Felix Cofie
President John Dramani Mahama has reaffirmed his administration’s commitment to transforming Ghana’s mining sector through a bold local content and indigenisation agenda, declaring that the country’s mineral wealth must build industries and prosperity at home.
Speaking at a high-level mining summit at Planter’s Lodge in Takoradi, the President said Ghana could no longer afford an extractive model where value leaves the country while communities remain underdeveloped.
The two-day gathering brought together ministers of state, members of the diplomatic corps, policymakers, captains of industry, traditional leaders led by Nana Kobina Nketsiah, and executives of the Minerals Commission to deliberate on expanding Ghanaian participation in the mining value chain.
“From Enclave to Engine of Growth”
Addressing participants, speakers acknowledged Ghana’s long and storied mining history—from the gold belts of Obuasi, Tarkwa and Prestea, to the manganese deposits of Nsuta and bauxite reserves at Awaso and Nyinahin.
Mining currently accounts for about 43 percent of Ghana’s total merchandise exports and supports millions of jobs directly and indirectly. Yet, stakeholders admitted that despite over a century of extraction, the sector has largely operated as an enclave—functioning alongside the broader economy rather than fully within it.
“Gold leaves, but poverty stays,” one traditional leader remarked, capturing the central concern of the summit.
Industry data presented at the forum indicated that Ghanaian companies capture less than 40 percent of procurement spending in the sector, while over 70 percent of high-value services—such as engineering design, equipment supply, and specialised technical support—are still sourced from outside the country.
Reset Agenda and Local Content Drive
President Mahama’s “Reset Agenda” was highlighted as the policy anchor for deepening Ghanaian ownership and participation in the extractive industries. The President was praised for his earlier leadership in the petroleum sector, where Local Content (L.C.) Regulations significantly expanded indigenous participation.
Speakers said a similar transformation was now underway in mining.
The Minerals Commission, led by CEO Isaac Tandoh, has developed a Mining Local Content and Local Procurement Policy Framework designed to prioritise Ghanaian businesses not as an afterthought, but as a strategic imperative.
Plans are also advanced to establish a Special Purpose Vehicle (SPV) to drive sustainable partnerships, industrialisation, and technology transfer in the sector.
Regulation, stakeholders noted, must go beyond compliance to catalyse transformation.
Strong Warning Against “Fronting”
In one of the most emphatic moments of the summit, government officials issued a stern warning against the practice of “fronting”—where foreign firms use Ghanaian names as cover to meet regulatory requirements while retaining full control and benefits.
The practice, they said, undermines genuine local participation and amounts to a betrayal of national interest.
“We will not condone any form of fronting,” participants were told. “Do not sell your birthright for crumbs when you can own the bakery.”
Partnerships, Technology and Value Addition
The summit emphasised structured joint ventures between Ghanaian firms and international companies as the pathway to meaningful transformation.
Stakeholders outlined scenarios where:
• Ghanaian fabrication firms partner with global engineering companies to upgrade skills and transfer technology.
• Local tech start-ups collaborate with mining multinationals to develop drone-based ore monitoring solutions.
• Ghanaian-owned firms hold equity stakes in mining operations, ensuring a voice in decision-making and long-term dividends.
The broader goal is to shift Ghana from being merely a destination for extraction to becoming a partner in progress.
Participants also posed critical questions about value addition:
• How can Ghana refine and process its gold locally to build a thriving jewellery and manufacturing industry?
• How can lithium deposits power battery production and green industries within Ghana rather than abroad?
• How can young Ghanaian engineers and professionals access capital, technology, and partnerships to lead the sector’s next phase?
Nkrumah’s Vision Revisited
The summit drew inspiration from Kwame Nkrumah, whose call for economic independence alongside political freedom was invoked as a guiding principle.
Speakers argued that true sovereignty requires leveraging Ghana’s natural resources to build productive capacity, create jobs, and raise living standards.
A Call to Action
Traditional authorities were urged to deepen community engagement and ensure development agreements yield tangible benefits. Ghanaian entrepreneurs were challenged to meet global standards of quality, efficiency, and innovation—earning contracts not simply because they are local, but because they are competitive.
“These minerals are finite,” participants were reminded. “But the capabilities we build and the industries we establish can be infinite.”
As deliberations continue in Takoradi, the message from government and industry leaders is clear: Ghana’s mining sector must move beyond business-as-usual toward integrated, inclusive, and indigenised growth.
With political backing at the highest level and regulatory reforms underway, stakeholders expressed optimism that this generation could finally turn mineral wealth into lasting national prosperity.
