Samuel A. Jinapor, MP, has argued persuasively that Ghana and other mineral-producing nations in Africa should foster an atmosphere that encourages mining companies to prosper.
However, he has cautioned investors that agreements that result in an unequal distribution of profits would not be sustainable.
On Wednesday, July 3, 2024, during a panel discussion at the ongoing Mining On Top Africa summit in Paris, France, Hon. Jinapor stated that African nations have an obligation to the investing community and to themselves to make sure that the environment is favorable for enterprises to prosper.
He pointed out that although nations that produce minerals have the right to demand fairness and equity in the prices of those resources, they also have the power to foster the environment that gives investors hope that their investment will continue to prosper.
He established a robust legal framework, a stable and prosperous governance structure, and investor-friendly economic policies as some of the key prerequisites for luring investors to nations that produce minerals.
“In order to draw in investors, Ghana, Senegal, and other nations must provide the proper framework, policies, and stability.
“Your nation won’t attract investors, and you’ll use resources carelessly, operate without a proper framework, and prosper.”
Nothing like that can ever occur. “We need to have the courage to acknowledge that we still have some work to do. Talk about the rule of law, democracy, and observance of basic human rights, among other things.
The Minister of Lands also emphasized the value of the Ghana Geological Survey Authority in determining the quantity of minerals that the nation is known for.
He clarified that the development of Ghana’s mining industry has been made possible in large part by the GGSA
BY: APPIANIMAA MERCY
