Leverage our bauxite to Ghanaian businessmen – Graphic MD to Akufo-Addo

The Managing Director of Graphic Communications Group Ghana Limited, Ken Ashigbey, has described the government’s decision to leverage the country’s mineral resources, especially, its bauxite to the Chinese in exchange for US$19billion as a wrong move.

According to him, in building a country where the unemployment rate, especially, among the youth, is so high, leveraging your mineral resources to a different country or foreign investors will be detrimental.

What will be good for the country, he noted, is to leverage the mineral resources to Ghanaian businessmen and women who have the money and are ready to invest it any sector to ensure that the rate of unemployment is reduced.

Speaking Monday, July 10, 2017, on Kasapa FM, Mr. Ashigbey said the government led by Nana Addo Dankwa Akufo-Addo, will not be wrong if it goes to the Ghana Stock Exchange to raise the needed capital for its priority or developmental projects, bearing in mind that whatever it gives in return will stay in the country.

“If we are talking about leveraging our mineral resources to a foreign investor, we should leverage it to our own Ghanaian businessmen. The reason why Johannesburg has developed is that when it came to raising funds, the government went to the Johannesburg Stock Exchange to raise those funds.

"So, it will not be far-fetched if our government leverages our mineral resources to our own businessmen. Whatever amount we need, we should go to the Ghana Stock Exchange (GSE) to raise it. This is what will bring about the needed transformation to our country. We cannot continue to be slaves anymore,” he noted.

Ashigbey, who is also the Convener, Media Coalition Against Galamsey, said it was about time Ghana adds value to about 80% of its raw materials that are exported to other parts of the world, believing that is the surest way the country could progress at a faster pace as being expected by all.