I saw some news today that put me in a great mood, so it’s only right that I share the wealth. The following information comes out of AfricaNews.
Ghana’s President, Nana Akufo-Addo, has demanded that mining deals become beneficial to Africa. He’s calling on the government to end fiscal incentives that are used to attract investments from other countries. Resource-holding governments at the African Mining Indaba in Cape Town are aware of the need for international miners to find new exploration territory, so they’re increasing tax and royalty demands. The President advised the following:
“I believe we have come of age. We should not have to give unusual tax and royalties incentives. And mining companies should not expect to make extraordinary profits on our continent.”
Other African governments have reviewed mining contracts, and they’re seeking to recalibrate partnerships and increase their share of mining revenues. President Akufo-Addo has stated that Africa needed mining investment, but companies need to understand their role.
“We want to stay here for the long-term. Respect the land that provides the riches and be part of the transformation. It’s time to make Africa prosperous and allow her people to attain a dignified standard of living.”
“We cannot, and should not, continue to be merely exporters of raw materials to other countries.”
I agree with his statements one hundred percent. You can check out the full article by clicking here. And feel free to comment below if you have any additional information.
Until Next Time…