Independent presidential candidate Mr Alan Kyerematen provided insightful perspectives on the management of Ghana’s natural resources in a recent interview with The Ghanaian Chronicle, distinguishing his approach from the rhetoric of other political figures, particularly that of the Vice President, who doesn’t seem to understand a thing about the management of the country’s natural resources.
Alan Kyerematen, founder of the Movement for Change (M4C), throughout the interview, showcased a nuanced understanding of the complexities involved in maximizing the benefits of natural resources.
Highlighting the legal framework governing mineral resources in Ghana by referring to Article 257(6) of the Constitution, Mr. Alan Kyerematen debunked the Vice President’s notion of 100% ownership as mere populist propaganda and described it as misleading and unfortunate. Not only that, he also described it as counterproductive to attracting private investment capital into the exploitation of our natural resources.
It is common knowledge in Ghana that the Vice President, Alhaji Mahamadu Bawumia likes to engage in populist propaganda to deceive voters. His ill-thought-out NABCO and gold-for-oil policies have become an albatross around our necks, stagnating our progress. We were deceived to believe that his gold-for-oil policy was going to lead to a significant reduction in the prices of fuel and cedi depreciation.
However, unfortunately for the Vice President, the Usain Bolt kind of exchange rate we are currently experiencing and the continuous increase in fuel prices have exposed his incompetence.
Mr. Alan Kyerematen, throughout the interview, exhibited his depth of knowledge and emphasized the importance of strategic exploitation, noting that ownership alone does not guarantee economic benefits. His stance underscores a pragmatic approach focused on effective utilization rather than misleading promises.
Mr. Kyerematen’s economic acumen shines through his proposals for raising capital to optimize resource exploitation. Recognizing the limitations of domestic revenue and debt financing, he advocates for attracting foreign direct investment (FDI) as a viable option. His emphasis on joint ventures and value-added initiatives demonstrates a commitment to maximising Ghana’s gains from natural resources while fostering partnerships for sustainable development.
Under Alan Kyerematen’s leadership, Ghana would adopt a comprehensive strategy that balances national interests with international collaboration. He made it clear that under his leadership, Ghana would have a controlling interest of not less than 60% in the exploitation of its natural resources through joint ventures or other forms of commercial engagements, with participatory interest by the government, individual Ghanaians, and foreign private partners.
Furthermore, his Great Transformational Plan prioritizes sectors for economic growth and outlines measures to stabilize the macroeconomic environment, laying a foundation for attracting FDI and driving job creation.
With a blend of legal expertise and practical economic solutions, Alan Kyerematen emerges as a formidable candidate poised to steer Ghana towards prosperity in the face of self-inflicted economic challenges.
Source: Ebo Buckman