By Franklin ASARE-DONKOH
The Asantehene, Otumfuo Osei Tutu II, has called on African leaders to deliberately build local and indigenous mining giants to ensure that the continent retains more of its mineral wealth.
According to him, establishing major African-owned mining companies would enable the continent to retain a greater share of the wealth generated from its mineral resources.
Delivering an address on his behalf at the Mining in Motion Conference in Accra on Monday, October 19, 2026, the Essumejahene, Nana Okyere Kusi Ntrama, said Africa must develop indigenous mining companies capable of competing with established global players rather than allowing much of the value from its natural resources to be generated outside the continent.
He said the continent needed a new industry consensus to address past shortcomings and ensure that mining wealth translated into greater benefits for resource-producing countries.
Drawing comparisons with wealthy business figures and major mining interests, the Asantehene called for more African entrepreneurs to build companies capable of retaining mineral wealth on the continent.
“Just as in the Emirates, in the Middle East, right ahead in oil billionaires of the world, so some of the sons of Africa will also be created. The Oppenheimers, the De Beers, the Patrice Motsepes, the Ibrahim Mahamas, should be created in Africa. So, we keep the value here in Africa,” he said.
He also called for a national consensus on Ghana’s mineral policy, urging stakeholders to keep it above partisan politics and ensure that successive governments sustained efforts to expand local value addition.
The Asantehene further warned that the reforms could face resistance from groups or individuals who had benefited from the existing system, as well as international players seeking Africa’s critical minerals for emerging industries.
He stressed that efforts to retain more mineral wealth locally must deliver tangible benefits to Ghanaians and other African communities without undermining efficiency, production, effective management and safety in the mining industry.
