Accra, Oct 22, GNA- Dr Sam Jonah, Chief Executive of the Ashanti Goldfields Company (AGC) Limited on Wednesday said the New Partnership for Africa Development (NEPAD) would not succeed if there is no free flow of trade and investment between sister African countries.
He asked; "Isn't it a shame that trade between African countries only accounts for 13 per cent of the continent's entire trade?"
Dr Jonah was speaking at a conference Ghana held for the visiting South African 32-member Business Delegation in Accra to work out co-operation between the two countries especially in the mining sector. The conference is a follow up to a memorandum of understanding entered into between the two countries in February this year under which the Mining Ministers agreed to spearhead co-operation between the two countries.
The two countries must find ways to make trade flows less disproportionate and more equivalent for the sustenance and increase in the overall cycle of trade and investment.
Dr Jonah said in this new age of African partnership, there were many Ghanaian investors outside the south African boarders who wish to invest but do so with difficulty under the current legislative initiative of South Africa.
"Yet when you wish to invest in Ghana or elsewhere in Africa, we welcome you, black or white with open arms. I challenge, therefore, that it requires a fine balance between your domestic priorities and your continental imperatives".
He said partnership between Ashanti Goldfields and its partners with South Africa has been successful, saying that despite all challenges, working together would strengthen the partnership even further.
Ghana, he said, made modest contribution towards South Africa's emancipation and called on governments to join forces to bring about the economic emancipation of the continent.
Dr Jonah said "ten years ago, when Ashanti was expanding its process capacity, it opted for the Bi-Oxidation Technology from South Africa developed by Gencor of that country.
It was done over various technologies offered by countries in North America and Europe.
"Today Ashanti operates the largest Bi-Oxidation plant in the world, and does so with a cadre of almost exclusively African professionals", Dr Jonah said.
He said Ashanti also runs one of the largest underground mine training schools in the world where a number of students graduate in Masters in Business Administration.
He said South Africa had shown tremendous leadership and fortitude in laying down a road map for the empowerment of its people, and expressed the hope that Ghana could learn from the South African example.
Mr Bobby Godsell, Chief Executive Officer of the AngloGold Limited said fixing of gold prices should be done by countries who produce the precious metal and not those who acquire them through colonial means. He said information research development and trade policy cooperation as well as building value added economic activity on the base of mining, would bring real benefits.
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