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Showing posts from August, 2024

Developing communities through mining

 Ghana's rich mineral resources, particularly gold, have been a significant contributor to the country's economy, driving growth and development. The mining sector contributes substantially to GDP, averaging 12.2% annually over the past decade. It also accounts for 13.18% of total revenues collected by the Ghana Revenue Authority over the past ten years. The sector has also attracted over $6 billion in direct investment since 1986, making Ghana a leading gold producer in Africa and sixth-largest globally. The mining sector's resilience and importance to Ghana's economy underscore its role in funding public services, infrastructure projects, and promoting economic growth. Corporate Social Responsibility: Investing in Communities Beyond its economic contributions, the mining sector is deeply committed to the well-being of the communities in which it operates. Many large mining companies have established dedicated foundations or trust funds aimed at community development. ...

Elephant in the room: Government’s Valueless Golden Shares in Telecel and AT Ghana - Part 1

This article is not about NPP or NDC government. It is about the Government of Ghana as a continuum and how the actions and inactions of policymakers and their implementing agencies have created the current status quo we have in the telecoms industry. The Government of Ghana used to own 100% of Ghana Telecom before 70% was sold to Vodafone for US$900 million in 2006. Since then, government has always held 30% golden shares in what became Vodafone Ghana, and now Telecel Ghana. Similarly, through the Ghana National Petroleum Authority (GNPC), government established Westel in partnership with US-based Western Wireless. Westel then became Zain, and later Airtel. Over the transition period, government, through GNPC held some 35% golden shares in the company. Then when Airtel merged with Tigo to form AirtelTigo, government’s shares was reportedly recalibrated to 10%. But now government owns 100% of AirtelTigo (now AT Ghana), which it purchased for US$1 , after both Airtel (Bharti) and Tigo (...