Samuel Okudzeto Ablakwa, the Foreign Affairs Minister, has said Ghana is targeting an end to the export of raw materials by 2030.
Ablakwa revealed the move forms part of government efforts to add value to the country’s natural resources and achieve resource sovereignty.
According to Ablakwa, Ghana must develop homegrown solutions and negotiate better deals to ensure its natural resources create more wealth for its people.
Speaking during a panel discussion at Ruptures and Ramparts, Ablakwa stated, “And that is why, in Ghana, we have set a target that by 2030 we are no longer going to export any raw material, not one”.
“Whether it’s cocoa, whether it’s gold, whether it’s bauxite, whatever. We are going to add value. We are going to industrialise and make sure that we have resource sovereignty.”
‘Look within’ and negotiate better”.
Ablakwa added, “With all your gold or your diamond or your bauxite or your cocoa. Waiting for what? Friends? What kind of friendship is that? Look within. Be resilient. Come up with homegrown solutions. Negotiate better, add value”.
The Foreign Affairs Minister further cited Ghana’s interests in the gold and oil and gas sectors as examples of arrangements that have not generated enough value for the country.
He added, “I mean, if you look at some of the agreements that forbearers signed, I mean, for many, many decades of gold exploration, we only have a current interest of 10% and the 90% is out there, extracted, and the wealth is created elsewhere”.
“I mean oil and gas – we discovered oil about almost two decades ago – it’s just about what, 15%.”
“So we have a new framework where we are negotiating hard and smart. We have said that all the leases that are coming up for renegotiation will not follow the same old template,” he said.
Ablakwa further added, “Now technology is available, and that’s the benefit of AI and other generative tools we have today; you can buy them off the shelves, and you can create your own internal capacity and make sure that your natural resources benefit the people”.
“So yes, it’s quite nostalgic. We miss the old order where you could trust people more and have more friends and be a bit more loyal, and you can be invited to Delhi or Washington and trust the coffee you are served,” he said.
“But this new dispensation offers, particularly Africa, the most endowed continent whether it’s human resource, whether it’s natural resources – a new paradigm,” he said.
“And smart leaders must take advantage and create new wealth for Africans. That’s how we see it.”
Meanwhile, President John Dramani Mahama has announced that by 2030, Ghana will stop exporting raw mineral ores like Bauxite, Manganese.
According to John Mahama, that is the way Ghana can provide opportunities for our people to stop them from braving the dangers of the Sahara and Mediterranean to try to get to Europe to look for opportunities.
He highlighted that the strategy is already being applied to the cocoa sector, which he noted is facing challenges.
Speaking at the Accra Reset Addis Reckoning event in Addis Ababa on Saturday, February 14, President Mahama stated, “President Mahama further declared, “I say by 2030, there are not going to be any raw manganese ores out of Ghana. We are not going to ship manganese ore, bauxite, or iron ore out of Ghana raw. You must process all that locally. That is the only way we can provide opportunities for our people.
Our young people are not as patient as our generation. They want to see progress and prosperity today. That is why Accra Reset has that urgency that we need to implement so that we stop our young people from braving the dangers of the Sahara and Mediterranean to try to get to Europe to look for opportunity.
So I want to thank you for finding time to attend. This is Addis Reckoning. From Addis, we must start implementing”.
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