Ghana: Incredible Wealth, Bad Negotiations, Corruption and Poverty for its People (Pt1)

Ghana has historically been vital to the industrialisation of Europe and other western nations as a source of natural resources and human something we downplay when assessing our strength and weaknesses and why we continue to experience economic ebb and flow. I heard the spokesperson of the current Vice-President Dr Boako and others who have been defending the $19b China loan, say China benefited from same leveraging system from its dealing with Japan in the past.

That assertion or information is inaccurate. On the contrary, apart from pushing for the enactment of the right of extra territoriality, the treaty port system etc to support its dealings with her European partners,China adopted a special settlements and concession arrangements and at some of her larger ports, notably Shanghai, Tientsin, Hankow and Canton, local arrangements were made, after the treaty had been signed by which certain areas known as settlements and concessions,were set aside,within which all arrangements relating to roads,lightning, cleansing public utilities etc were placed under the control of municipal councils.

On Japan, there was vast migration of and about 50 million people from the coastal and Yangtze province to the far west and south west, where the Government had established, and great efforts had been made to establish new industries in those regions in place of those the Japanese destroyed. I have put put these facts to show the spirit of consciousness the Chinese attached to its economic evolution and reconstruction. China has huge deposits of coal, iron, copper, tin, antimony and tungsten and some petroleum, all important or vital its modern industry or industrialisation drive. It has huge deposits of these minerals still untapped but here we are Dr Bawumia is telling us Ghana is going to leverage our natural resources for a token $19b and confidently told us that Ghana is going to get $400b from dashing out 2.8bn metric tonnes of iron ore, 960 million metric tonnes of bauxite,430 million metric tonnes of manganese and 413 million metric tonnes of limestone.

Many years after colonialism, our colonial master, Britain, America, Japan, Turkey, China, Israel and even Korea are competing fiercely among themselves for our resources. These nations use state supported corporations,transitional corporations, world organizations, foreign aid, loans, diplomacy and other  juicy deals to further their national agendas. This is the reason why I had issues with what Former President Kufour said about Nkrumah claiming,the latter’s policies contributed to our presented predicament. Mr Kufour should tell us what happened to the many factories Nkrumah established, the Gihoc corporations including steel works, metal works etc. These were factories eatablished to make sure we added value to our raw materials, Kade matches produced matches from our woods, Nsawan cannery produced first class fruit juice from our fruits and vegetables, Gihoc pharmaceuticals produced drugs from our plants etc, GIHOC distilleries produced first class alcoholic beverages from our plants and fruits etc. Where are the factories and the lands the first president through executive instrument,acquired for the state for its future industrialisation drive.

Britain made judicious use of her coal and other few mineral resources through good bargaining arrangements and rushed here to deplete our lands of its natural resources.We have manganiferous rock and low grade manganese ores but the Insuta deposit is the one we know which was discovered by the geological department in 1915. Production commenced in 1916 and to the end of 1935 some 4,003,000 tons valued at approximately 6,936,000 pounds had been exported to Britain. Several deposit of bauxite of good quality have been discovered at Yenahin, Kyerekyerewere, Mpraseso, Sehwi Bekwai, inside the Ojuanoma mountain, Atiwa etc.

But before I touch on the next issue, can the politicians tell us some of the benefits communities where these minerals are deposited, have gained from the decades of exploration and exploitation.The original discoveries of alluvial diamonds were made by the Geological Survey at and near Abomoso my hometown in 1919 and around Oda, Kade and Manso in 1930.Subsequently, more detailed work by prospectors led to the discovery of deposits near Akwatia and Atiankama. Other deposits were found in the basins of the lower Birim.Pra and Offin River. After years of diamond mining in some of these areas notably, Akwatia, Kade, Wenchi etc, what is the socio-economic situation of the people in these areas and their infrastructure. We have quartzite, shales, limestone, Phyllites and schists deposits in the Akwapin mountain or range and stretches to Akwamu at the Volta range.

Buem has quartzite, Sandstone, conglomerates, limestone, shales etc. All these are mineral resources freely deposied here for our use by our maker. Go to Obuasi and will understand why some of us think we must thread carefully with this penchant to dash out our mineral resources for few dollars. South Africa is what it is today because of its proper mining systems and has made tremendous gains from its gold, Uranium etc. in Ghana the story is the opposite of what happened and happening in South Africa we didn’t get anything substantial from Ashanti Gold’s decades of mining of lodes, auriferous conglomerates in Tarkwanian. rocks and the alluvial deposits by Obusi Goldfields and the indigenes are today wallowing in abject poverty leading to the galamsey mining bedeviling the country.

Until we draft a comprehensive mining policy which will be binding on all regimes, our politicians must end this,piecemeal arrangements with their foreign partners. We must go the South African. Our mining laws are too porous and get weakened every other day by the politicians and their allies in the mining business.

How sustainable is our one district one factory policy going to be looking at how we carelessly watched our factories built under Nkrumah to collapse. This is not a policy we must sell all our mineral resources to support or, sell the resources to support one constituency,one million dollar policies. What are the practical benefit we will accrue from investing into these ventures, loans from these deals. India is today exporting brains ( human resource), Uganda and Rwanda are feverishly working on improving its technology poltential by investing hugely in the training of people in ICT etc. We are killing the cocoa industry which has been the mainstay of our economy for decades, the aging farmers are not getting replacements and we politicising the industry. We have moved from the cocoa sector to wanton tapping of our mineral resources in collaboration with our foreign agents.

Africa is one of the few place in the world where venadium which gives steel more strength and flexibility, is found. Vanadium is used in  automobile, aeroplanes, electronics, medical equipment etc. A research done by a Swedish group confirmed deposits of it in the country unknown to many including our geological department. Margaret Thatcher for years stood in the way of ANC in their struggle because of her husband’s uranium business in South Africa, his son sponsored two major coups on the continent to oust unfriendly governments who hindered his businesses on the continent. Ghana must rise above the pettiness we witnessing….

Source: Ohenenana Obonti Krow

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2 thoughts on “Ghana: Incredible Wealth, Bad Negotiations, Corruption and Poverty for its People (Pt1)

  • 19th April 2019 at 2:50 am

    *There are some interesting points in time in this article but I don’t know if I see all of them center to heart. There is some validity but I will take hold opinion until I look into it further. Good article , thanks and we want more! Added to FeedBurner as well

  • 19th April 2019 at 4:07 am

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