Ghana has called upon African nations to prioritize their obligations under the African Mining Vision, emphasizing the need for concerted efforts to unlock the continent's mineral potential for sustainable growth and development.
Speaking at the Africa Prosperity Dialogues (APD) 2024, Mr. Samuel Jinapor, Minister of Lands and Natural Resources, highlighted the crucial role of mineral resources in Africa's prosperity.
“Breaking the eight” is a slogan, which symbolizes the party's aspirations to secure a third consecutive term in power.
He underscored the importance of value addition and indigenous participation in mineral exploitation, urging stakeholders to collaborate under the African Continental Free Trade Area (AFCFTA) Secretariat to promote intra-African trade and retain mineral value on the continent.
Mr. Jinapor lamented the historical trend of exporting raw minerals, which has hindered Africa's development despite its vast resources.
He cited Ghana's gold mining industry as an example, where despite being a leading producer, the country lacks refineries to add value to its precious mineral.
The Minister urged governments, the private sector, and civil society organizations to work together to leverage mineral resources for resource-based industrialization and economic growth.
Highlighting Ghana's commitment to value addition, Mr. Jinapor mentioned the establishment of a gold refinery through a Public-Private Partnership and initiatives to promote local content participation in the mining industry.
He emphasized the importance of ensuring that citizens have equities in companies involved in mineral exploitation, stating, “We must pursue value addition and indigenous participation in the exploitation of our natural resources with the utmost vigor, resilience, and resolution.”
The APD serves as a platform to address key issues hindering Africa's progress and chart a course toward a more prosperous and inclusive future.
This year's theme, ‘Delivering Prosperity in Africa: Produce, Add Value, Trade', underscores the importance of value addition in driving Africa's economic transformation.
With about five Heads of State, including Ghana's President Nana Akufo-Addo, participating, the dialogue aims to foster discussions on strategies to enhance prosperity in Africa through value addition, trade, and sustainable development.