General News Sun, 21 Oct 2001

Asantehene inaugurates Golden Development Company Board

The Asantehene, Otumfuo Opoku Ware II inaugurated the 13-member Board of Directors for newly established Golden Development Holding Company (GDHC) in Kumasi, which will spearhead the development of Asanteman.

The board, which has Dr Kwame Donkor Fordjour as its chairman includes, Mr. Sam Jonah, Chief Executive of Ashanti Goldfields Company (AGC), Mr Paul Victor Obeng, one-time advisor to former President J.J Rawlings on governmental affairs, Mr. Kwabena Darko, Professor Abena Dolphyne and Professor Mrs Ernestina Addy.

The rest are Dr. Christine Amoako-Nuamah, a former Lands and Forestry Minister in the NDC administration, Oheneba Agyemang Atwereboana, Hiahene, Mr. Anthony Attah-Poku, Chief Executive Officer of the company, Mr. Lovelace Prempeh, Professor Paul Kwame Nyame, Dr Kwabena Duffuor, immediate past Governor of the Bank of Ghana (BOG) and Mr. A.S.Y. Andoh.

The company will undertake multi-sectoral regional development projects to accelerate the economic and social growth in Asanteman through subsidiary companies under health, education, tourism and infrastructure, banking and financial services, agriculture and agro-business, land and forestry sectors.

The Asantehene tasked the board members to explore opportunities to raise a minimum ordinary share capital of 150 billion cedis to start operation.

Otumfuo Osei Tutu said chieftaincy now does not involve going to war against one's neighbours but that the war chiefs had to wage now is the war for quality education, health and employment.


He said as board members, they should start thinking of how to reactivate the shoe and jute factories in Kumasi so that the numerous unemployed youth roaming the streets can be employed.

The Asantehene said since his assumption of the throne, he had set up a number of committees, some of which had performed creditably, while others simply did not perform and charged the board to achieve results.

"If you run the company down it will not reflect only on you members but on me as well.

You should remember that you are going to manage funds not only for Asanteman but the whole country since when you float shares, it will not be for only Asanteman, it will be throughout the country".

Otumfuo Osei Tutu said the company is autonomous and should not tolerate interference from Manhyia or any other individual or organisation.

He therefore, urged them to discharge their duties without fear or favour.


Mr. Obeng, who deputised for Dr. Donkor Fordjour, expressed their gratitude to the Asantehene for best owing honour on them by appointing them to the board in spite of the fact that there were several other well qualified people in Asanteman.

He said the board would find out what was holding back investment in Asanteman and see how best the problem could be solved, pointing out that if it involved land, for instance, the board would find ways of getting the chiefs to address it.

Mr. Obeng noted that the task entrusted to them was enormous, but said it was not beyond them but rather an honour bestowed on them by the Asantehene.

He gave the assurance that they will discharge their duties with humility and dedication to justify the confidence the Asantehene had reposed in them, adding that they will explore every opportunity to ensure that they achieved positive results.

The Asantehene later presented the board members with certificates of appointment.

Source: GNA