Amid renewed campaign for the country’s local content policy, there is a call for the government to shift from mere rhetoric to a result-oriented approach.
Ghana’s mining sector has been one of the pillars of the economy, contributing significantly to export earnings, government revenue, and employment. Yet, questions remain about how much value the country truly retains from its mineral wealth.
The country, experts says retains just a small fraction of the potential it can earn from its mineral resources.
Amid the renewed calls for a reconsideration of the country’s local content policy, natural resource governance expert, Dr. Steve Manteaw, in a pointed policy reflection, is offering a new approach.
Dr. Manteaw argues that the country needs clear, measurable strategies, not emotional or nationalistic appeals, to achieve meaningful local participation in the mining sector.
From Aspirations to Strategy
The experts explain that local content means ensuring that Ghanaian businesses and citizens benefit directly from mining activities. This is achieved through ownership, procurement, employment, and technology transfer.
But according to Dr. Manteaw, good intentions alone will not deliver results. He is calling for a clear national strategy that outlines how Ghana intends to achieve its local content objectives, backed by measurable targets and defined timelines.
Without benchmarks, he suggests, it becomes difficult to track progress or hold stakeholders accountable.
“Ghana should have a clear strategy to achieve its local content objectives for its mining sector. The approach should emphasize partnership rather than nationalistic sentiments, as that scares investors,” Dr. Manteaw noted after the just-ended local content summit.
Clear Targets and Measurable Benchmarks
Providing some guidelines on how the country can implement a workable and efficient local content policy, Dr. Manteaw proposed the introduction of performance benchmarks over a specified timeframe.
He suggests the country’s policy should be able to answer questions such as What percentage of mining procurement should be supplied locally within five or ten years?
How much equity participation should Ghanaians hold in major mining operations?
How many domestic firms should be integrated into high-value segments of the supply chain?
He believes that by setting concrete targets, policymakers can move beyond broad promises and focus on delivery.
Partnership, Not Protectionism
Dr. Manteaw also cautioned against excessive nationalistic sentiment. While local participation is important, he warns that aggressive rhetoric or protectionist posturing could discourage foreign direct investment, a critical component of Ghana’s mining industry.
Instead, he advocates a partnership-driven approach that balances investor confidence with national interest.
Mining, he notes, is capital-intensive and technically complex. Sustainable local content growth must therefore be built on collaboration, skills transfer, and long-term industrial development — not confrontation.
Practical Pathways to Deeper Participation
Dr. Manteaw outlines several practical pathways to strengthen Ghana’s local content performance:
1. Partial Stock Listings on the Ghanaian Bourse
Requiring mining companies to list a portion of their shares locally would allow Ghanaians to participate in ownership and wealth creation.
2. Strategic State Equity in Profitable Mines
Rather than symbolic stakes, he suggests acquiring paid equity in profitable operations, ensuring that the state shares in long-term gains.
3. Building Manufacturing Capacity
Local content cannot thrive without domestic industrial capability. Ghana must strengthen its manufacturing base to meet procurement needs within the mining value chain, from equipment fabrication to consumables.
“Pathways should include a requirement for mining companies to list some of their stocks on the Ghanaian bourse, state acquisition of paid equity in profitable mines, building the manufacturing capability to deliver on the mining procurement list,” he recommended.
The Bottomline
As experts indicate, Ghana’s mineral resources are finite. The real opportunity lies not just in extracting gold and other minerals, but in leveraging the sector to build lasting industrial strength.
For the natural resource governance expert, local content success will not come from slogans or sentiment. It will come from structured policy, measurable goals, strategic partnerships, and industrial development.
As debates around resource nationalism continue globally, his intervention challenges policymakers to ask a difficult but necessary question.
