Oheneba Kwaku Duah, a prince of the Ashanti Kingdom and Managing Director of the Ashanti Green Initiative (AGI), has argued that Ghana's heavy reliance on foreign investment undermines its ability to fully benefit from its mineral wealth.
Speaking at the Mining in Motion Summit on Channel One TV's The Point of View on Monday, June 9, the Ashanti royal urged African mining firms to mobilise capital locally, drawing lessons from foreign companies that leverage stock markets and banking systems to finance their operations. "You cannot ask someone to come from his country, finance your operations, extract resources from here, and expect a 50/50 split.
The person who puts his skin in the game is the person who expects the most in return.
And I believe we Africans need to look at that and how we're going to be able to generate capital.
