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May 26, 2026
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Ghanaian participation in extractive sector must increase – Expert
Money
Policy
Opportunity
Growth
Key Points
- Dr. Frank Boateng of IMRIG advocates for increased Ghanaian ownership and participation in the country's extractive sector.
- He proposes deliberate policies to expand indigenous stakes, including broader citizen participation through stock market ownership, beyond limited state involvement.
- Suggestions include converting portions of mining firm taxes into equity to exceed the 10% free carried interest and leveraging lease renewals for greater participation.
- Dr. Boateng stresses the importance of broad citizen ownership over concentration in government/political hands and warns against policy reversals due to political changes.
- He identifies the artisanal and small-scale mining sector as a significant opportunity for local ownership, advocating for financing and technical support to help operators scale up.
Why This Matters
This discussion is crucial for Ghana as it directly addresses how the nation can maximize benefits from its abundant natural resources. Increased local participation and ownership in the extractive sector could lead to greater wealth retention within the country, stronger influence in strategic decisions, and more equitable distribution of benefits among citizens and mining communities, fostering sustainable economic development.
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