President John Dramani Mahama has renewed calls for Ghanaians to take full ownership of the country’s gold mining industry, declaring that the era of foreign exploitation must come to an end.
Mahama emphasized that the country was entering a new phase—one that prioritizes sovereignty, local ownership, and sustainable development while speaking at the inauguration of the Gold Board task force entrusted to deal with illegal gold trading.
“This is not only Ghana’s journey; many countries are now asserting sovereignty over their resources,” he noted.
Citing examples from other African nations, Mahama pointed to Botswana’s strict control over its diamond industry.
“In Botswana, it is a crime to export a single diamond without state approval. “This has not been the case with Ghana’s gold or other mineral resources,” he lamented. “But that is about to change.”
For decades, Ghana’s gold mining sector has been dominated by multinational companies, with critics arguing that the state and its citizens see only a fraction of the real value extracted from the land.
Mahama said this system must be dismantled to create real and lasting wealth for Ghanaians.
He described Ghana’s historical model of resource extraction—where capital, expertise, and profits flowed outward—as unsustainable and unjust.
According to Mahama, this colonial-era structure, which he previously referred to as the “Guggisberg system,” must now give way to a Ghana-centered approach.
“We will support and collaborate with Ghanaian firms to develop first-class mines and bring about sustainable economic growth,” he assured.
