By Francis Ntow
Accra, May 14, GNA – The Institute of Economic Affairs (IEA) says calls for State ownership and control of natural resources will not result in attacks or expulsions of foreign nationals in Ghana.
The policy think tank, which has for the past decade championed natural resource ownership with foreign participation through service contracts, emphasised that Ghanaians would continue to welcome foreign nationals in the value addition chain.
Dr Charles Mensa, Board Chairman of the IEA, responding to a Ghana News Agency question on xenophobic tendencies in nationalisation efforts, said Ghanaians had always shown love for foreigners.
“Ghanaians love the foreigners, otherwise, why will you give a whole gold mine that generates so much gold to Mike Fraser (of Gold Fields) who you don’t know?” he quizzed.
“If we can get a bit of love for ourselves: love for our businesspeople – our future Dangote’s, we will do a lot for Ghana… see how it is difficult for us to agree that we should let Ghanaians to do the mining, that should change and here comes the opportunity to change that,” he emphasised.
Dr Mensa said ensuring indigenous ownership of the country’s natural resources, especially in the mining sector, “will send a signal across Africa that we have now woken up from our long, long sleep.”
Sophia Akuffo, former Chief Justice and Distinguished Fellow of the IEA, said preference should be given to indigenous companies in mining, while foreigners participated through service contracts.
“I’ve always wondered what is more beneficial in foreign direct investment (FDI) than local investment by local people who are investing and being encouraged to invest in their country. It’s not one against the other but let’s begin to prioritise local investment,” she said.
Justice Akuffo noted that institutions such as the University of Mines and Technology had trained internationally recognised mining engineers, technicians, geologists and managers who distinguished themselves globally.
She said that many large-scale mining operations in Ghana were managed by indigenous companies, citing Engineers and Planners and Rocksure International Ltd.
“Indeed, major concessionaire operations and operational activities at Gold Fields Tarkwa mine itself are presently executed by Ghanaian mining service providers, and they are not just selling minor inputs, they are actually doing the real mining,” she said.
Professor Aaron Mike Ocquaye, former Speaker of Parliament and Distinguished Fellow of the IEA, said: “What is at stake and it’s beheld already belongs to Ghana by fact and our constitutional provisions.”
He urged exploration of various possibilities, including encouraging wealthy Ghanaians to invest through the Ghana Stock Exchange.
“We have to hold what we have and explore the various possibilities. We have the Ghana Stock Exchange; we must encourage people who are rich to invest by way of floating of shares and Ghanaians will buy,” he said.
GNA
Edited by Kenneth Sackey
14 May 2026
Picture attached
Reporter: Francis Ntow