Economist Adu Owusu Sarkodie has cautioned against calls for complete government ownership of Ghana’s extractive resources, warning that such a model could lead to serious operational and management challenges if not carefully structured.
Speaking at the JoyBusiness Roundtable discussion on the theme, “To Nationalise or Transform: Rethinking Ghana’s Approach to Gold Mining, Oil and Critical Minerals,” Dr. Sarkodie advocated for a balanced approach that combines state participation with private sector expertise.
While acknowledging the importance of increasing national benefits from natural resources, he argued that moving toward 100% state ownership carries significant risks.
“100 per cent government ownership is very risky. Our management is questionable because politicians will employ party foot soldiers, so a state ownership and private management is okay,” he stated.
Dr. Sarkodie explained that a well-structured public-private partnership would help maintain operational efficiency, preserve investor confidence, and keep the sector competitive while ensuring the state derives maximum value.
He emphasised that Ghana should focus on building strong governance structures, transparency, and accountability mechanisms rather than concentrating solely on ownership.
The economist noted that attracting investment, maintaining efficiency, and ensuring transparency should remain at the centre of discussions on the future of the country’s mining, oil, and critical minerals sectors.
His comments contribute to the ongoing national debate on how Ghana can secure greater benefits from its natural resources without compromising investment and productivity.
Editor:
Obiri-Yeboah
