Ghana earns US$5 billion in minerals export

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• The mask 10 years ago

  Of this $5 billion Ghanaians would only benefit in terms of tax revenue and salaries. Needless to say that economic neo-colonialism hasn't been eradicated. We sold the mines and we are selling the deposits.

  Of this $5 billion Ghanaians would only benefit in terms of tax revenue and salaries. Needless to say that economic neo-colonialism hasn't been eradicated. We sold the mines and we are selling the deposits.

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• United Ghana 10 years ago

  True. In any case $5billion, in the scheme of things, is peanuts. This is nothing to celebrate, except in petty minds like our neo colonialist leaders.

  True. In any case $5billion, in the scheme of things, is peanuts. This is nothing to celebrate, except in petty minds like our neo colonialist leaders.

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• Saint Ghfuo: Nyantakyi must go! 10 years ago

  GH. Sovereign Wealth Fund
  *These Finance Ministers and politicians in Ghana must read these books.
  *Book: "50years is enough", "Dying for growth: Global inequality and health of the poor".
  *Govts must Invest in Health & E ...
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  GH. Sovereign Wealth Fund
  *These Finance Ministers and politicians in Ghana must read these books.
  *Book: "50years is enough", "Dying for growth: Global inequality and health of the poor".
  *Govts must Invest in Health & Education for the poor = Higher GDPs for Ghana!
  *Corruption Endemic in Africa: Corruption was set up by the colonial overlords who used their western style education to train Africans to be bureaucrats in the civil service. Thus propagating bureaucracy and corruption to favor the colonialists. This is why Boko Haram for example are livid with the corrupt, fiscal number changing, election ballot stuffing, nature of these western educated, african govt bureaucrats in. Will Boko haram end up in Ghana? Why not?
  If the government can attempt to find solutions to these 3 issues. Things will be better. Instead, they engage in nefarious corrupt practices. Which prevents foreign investors from coming in becos there is stealing and no transparency in govt. So there is no money in the economy. So ghana now has to borrow the funds from imf, china etc and then these same corrupt Govts will steal that too! People like these must be jailed or shot dead!
  *Book: "Dead Aid" by Dambisa Moyo
  Every economist, African leader, finance minister must read this book!
  *Book: "why nations fail": an abundance of natural resources is a national curse!
  These nations with natural resource wealth on average have worse financial economies than nations who don't. Why you ask? Weak institutions, corruption, bad governors, managers!
  *Ghana Sovereign Wealth Fund by Martin Skankar.....Norwegian Ministry of Finance
  What is "Dutch Disease"?
  1. 30% of proceeds from oil, gold, diamonds, cocoa revenues etc should be deposited yearly in a Ghana Sovereign Wealth Fund account, a national 401k. This money will never be touched by any govt, period! This money will be invested all over the world in socially constructive projects. Projects to be excluded can include chemical nuclear projects, environmentally disastrous projects, product based exclusions like tobacco, walmart(human rights abuses) will all be excluded. The ROI from this fund will be used to supplement infrastructure projects, free education etc...
  2. A National Gas/oil Tax: Tax Revenue on all consumer gas sales, tolls, solar, wind energy sales will be deposited yearly in a federally administered Highway Trust Fund to fund new and refurbishing roads and transportation initiatives. Add tax revenue from truck/4x4 sales for the list. List this fund on the gsx or in a mutual fund/bond. Flagstaff House will tap intl this Gas tax and match all funds ponied up by the respective regions/local govt. This is how Ghana can wean itself from poverty and begin to acquire wealth and economic sustainability. Borrowing, selling natural resources, corruption, non patriotic govts, no free public education, no healthcare for the people etc won't help Ghana!

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• ZX 10 years ago

  Please cut ALL development aid to Ghana!

  Please cut ALL development aid to Ghana!

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• J.Davis 10 years ago

  OH YEA,EXPORT REVENUE FOR LAST YEAR ALONE AMOUNTED TO $5 BILLION.BUT WHERE IS THE MONEY,AND WHY ARE GOING TO THE RICH NATIONS,BEGGING FOR ALMS?THIS DOESN'T SOUND RIGHT TO ME.

  OH YEA,EXPORT REVENUE FOR LAST YEAR ALONE AMOUNTED TO $5 BILLION.BUT WHERE IS THE MONEY,AND WHY ARE GOING TO THE RICH NATIONS,BEGGING FOR ALMS?THIS DOESN'T SOUND RIGHT TO ME.

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• Joe 10 years ago

  With all these monies coming in, where does they go? Doctors, teachers, nurses and many workers are not paid for months, yet we have all these monies. Where does the money go? To Woyome and co. Time will tell.

  With all these monies coming in, where does they go? Doctors, teachers, nurses and many workers are not paid for months, yet we have all these monies. Where does the money go? To Woyome and co. Time will tell.

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• Ama 10 years ago

  Build a modern gold laboratory and Gold Refinery plus more Ghanaian emplioyed in the sector and Ghana will benefit more.Here in Ghana after more than 100years of mining , foreigners still occupy the op positions in mines.This ...
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  Build a modern gold laboratory and Gold Refinery plus more Ghanaian emplioyed in the sector and Ghana will benefit more.Here in Ghana after more than 100years of mining , foreigners still occupy the op positions in mines.This does not happen in most African countries that have the same foreign companies operating.

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• Awudu 10 years ago

  Where is all this money you are preaching.Itis all stollen by corrupt Politicians.Amen

  Where is all this money you are preaching.Itis all stollen by corrupt Politicians.Amen

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• EZEKIEL 10 years ago

  Let's ADD VALUE to our mineral exports!
  Just selling the RAW MATERIALS will NOT bring us DEVELOPMENT!! We create more job opportunities in foreign countries if we CONTINUE THE RAW MATERIAL EXPORT ALONE!!!!! Manufacturing... ...
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  Let's ADD VALUE to our mineral exports!
  Just selling the RAW MATERIALS will NOT bring us DEVELOPMENT!! We create more job opportunities in foreign countries if we CONTINUE THE RAW MATERIAL EXPORT ALONE!!!!! Manufacturing....that's the Name of job-creation!!!!!

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• freedom&corruption 10 years ago

  ...AND WE GO BORROWING $900M...THIEVES

  ...AND WE GO BORROWING $900M...THIEVES

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• Bostonman redsox 10 years ago

  being mismanaged and stolen by our government and foreign entities

  being mismanaged and stolen by our government and foreign entities

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• JACOB 10 years ago

  SAHME SHAME NOTHING TO BE PROUD ABOUT CHILD CONTINUE TO LEARN UNDER TREES, EVEN BASICS TOILETS, WATER IS A PROBLEM. TAKE A LOOK AT THE LEVEL OF ENVIRONMENTAL DAMAGE, CYNIDE IN WATER LEVEL

  SAHME SHAME NOTHING TO BE PROUD ABOUT CHILD CONTINUE TO LEARN UNDER TREES, EVEN BASICS TOILETS, WATER IS A PROBLEM. TAKE A LOOK AT THE LEVEL OF ENVIRONMENTAL DAMAGE, CYNIDE IN WATER LEVEL

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• HisExcellencyFWD 10 years ago

  if we can get $5b from only minerals why then must we go for loan from China $3b and $914m from the IMF, where does those monies goes?

  if we can get $5b from only minerals why then must we go for loan from China $3b and $914m from the IMF, where does those monies goes?

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• daladam 10 years ago

  IF GHANA MADE U.S $5BILLION ON MINIRAL
  THEN PAY THE IMF MAFIA BACK THEIR SMALL CHANGE OF $114MILL AND SEND THEM THE HELL OUT OF GHANA NOW ,OR YOU STEP DOWN AND GO HOME

  IF GHANA MADE U.S $5BILLION ON MINIRAL
  THEN PAY THE IMF MAFIA BACK THEIR SMALL CHANGE OF $114MILL AND SEND THEM THE HELL OUT OF GHANA NOW ,OR YOU STEP DOWN AND GO HOME

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• Lord Tennison 10 years ago

  What is happening to all these huge income flow?How are the revenues being utilized?
  Why are we seriously submerged in economic and social deprivations despite all these?
  Should the kids in the villages squat on pieces of w ...
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  What is happening to all these huge income flow?How are the revenues being utilized?
  Why are we seriously submerged in economic and social deprivations despite all these?
  Should the kids in the villages squat on pieces of wood and learn under trees?

  reply