Good points, madam. I hope policy makers, ministers, mps and the President take note. Getting 3 percent royalties from mining based on 1990 prices is INSANITY if not evil.
Good points, madam. I hope policy makers, ministers, mps and the President take note. Getting 3 percent royalties from mining based on 1990 prices is INSANITY if not evil.
ZoRRo 11 years ago
Des polititicians go kill us all. Gold price de go UP, Oil price dey go UP. Yet no water de come for pipe, no electricity dey come for light, no jobs dey come for us, and money dey come for pocket ! Wetin we go do OOOOOOOOO ... read full comment
Des polititicians go kill us all. Gold price de go UP, Oil price dey go UP. Yet no water de come for pipe, no electricity dey come for light, no jobs dey come for us, and money dey come for pocket ! Wetin we go do OOOOOOOOOH !
ZoRRo 11 years ago
When we complicate simple issues we create a gray area for politicians to perpetrate their crimes. The politicians know that these contracts are BOGUS and only serve their selfish interests. If we made it a crime to enter i ... read full comment
When we complicate simple issues we create a gray area for politicians to perpetrate their crimes. The politicians know that these contracts are BOGUS and only serve their selfish interests. If we made it a crime to enter into a contract that does not benefit the people, then maybe they will wake up. These issues of Information Asymmetry, Capacity Building etc, etc, are excuses for the bloody thieves.
EZEKIEL 11 years ago
This IS SIMILAR to what I've been asking all along.......DO OUR NEGOTIATORS UNDERSTANT the long term IMPLICATIONS of ALL they sign in the name of Ghana?? NO !
There was this Fin. Min.from GHANA, who was supposed to have sign ... read full comment
This IS SIMILAR to what I've been asking all along.......DO OUR NEGOTIATORS UNDERSTANT the long term IMPLICATIONS of ALL they sign in the name of Ghana?? NO !
There was this Fin. Min.from GHANA, who was supposed to have signed a contract,in Germany,WRITTEN in German....and he signed !!!!
It is the SAME.."just sign on the DOTTED LINE......Yours obedient SERVANT.....XYZ for Ghana!!!!!!!!!!!!
Isaac Kusi, Bronx, NY. 11 years ago
I just wrote an article on this subject this year. Beleive me, we do not have to give out our minerals anymore to these gangsters called investors or multinational corporations. We must mine the minerals ourselves. These guys ... read full comment
I just wrote an article on this subject this year. Beleive me, we do not have to give out our minerals anymore to these gangsters called investors or multinational corporations. We must mine the minerals ourselves. These guys don't bring anything that we can't buy ourselves. enough is enough. No more licences for minerals to any foreign entity. Lets set up State Gold Mining Corp. like Kwame Nkrumah did. Period.
KK 11 years ago
EXCELLENT POINT AND THIS IS THE CAUSE OF AFRICA POVERTY AND CONTINUES TO BE. IGNORANCE, LACK OF VISION, GREED AND CORRUPT, SELFISH. AS RESULT CONTRACTS ARE SIGNED IN A HASTLY MANOR WITHOUT THINKING FUTURE GENERATION FOR JOBS ... read full comment
EXCELLENT POINT AND THIS IS THE CAUSE OF AFRICA POVERTY AND CONTINUES TO BE. IGNORANCE, LACK OF VISION, GREED AND CORRUPT, SELFISH. AS RESULT CONTRACTS ARE SIGNED IN A HASTLY MANOR WITHOUT THINKING FUTURE GENERATION FOR JOBS AND DEVELOPMENTS, TAXES
GHANANI 11 years ago
Out of the jubilee oil negotiations emerged millionaires who belong to the NPP.They got 3 percent oil royalties from the oil companies and this no doubt contributed to the nation getting only 10 percent.
Out of the jubilee oil negotiations emerged millionaires who belong to the NPP.They got 3 percent oil royalties from the oil companies and this no doubt contributed to the nation getting only 10 percent.
American 11 years ago
Salient quote from the Minister:
“We (African policymakers) need to do our homework thoroughly before we begin contract negotiations with foreign oil or mining firms.
“In many cases, there is a wide information asym ... read full comment
Salient quote from the Minister:
“We (African policymakers) need to do our homework thoroughly before we begin contract negotiations with foreign oil or mining firms.
“In many cases, there is a wide information asymmetry between foreign contractor firms and the host government officials.
“So African government officials should invest more in building technical capacities and improving negotiation skills before entering into contract negotiations,” she said.
Isn't all of this rich? This was the very woman who sold Nigeria's sovereign wealth fund of $2 billion dollars to (... hold your breath ...) JP Morgan, the same bank that needed
a US federal bailout in 2008.
What she says about foreign companies being run for their own benefit, and the asymmetric nature of information between western businesses and African governments, are readily apparent with her own actions.
JP Morgan, like all Wall Street and London banks, are infamous for
1. giving bad advice at the wrong time
2. charging high fees for said advice
3. portfolio churning (buying and selling just to raise the brokers' commissions), etc.
And that is the just way they mishandle the wealth of rich Americans.
Did she have to sign a Wall Street bank for the purpose? Couldn't a South African or even Singaporean manager do the job?
Her actions as finance minister shows that her words just "palaver."
Gawuga 11 years ago
Too many Phds in Africa but they in to fill their pockets.
Too many Phds in Africa but they in to fill their pockets.
Gawuga 11 years ago
All down to African God and pastors. Not easy for the poor.
All down to African God and pastors. Not easy for the poor.
Frank 11 years ago
We are fed up with this galamsey people. gov't has to be very serious in dealing with the menace
We are fed up with this galamsey people. gov't has to be very serious in dealing with the menace
Kwame 11 years ago
Dr. Ngozi Okongo-Iweala is just a double tonged person. The woman worked at the World Band and was one of those who supervised the sheepish and slave economic road maps that the Breton Woods Institutions let Africans swallow ... read full comment
Dr. Ngozi Okongo-Iweala is just a double tonged person. The woman worked at the World Band and was one of those who supervised the sheepish and slave economic road maps that the Breton Woods Institutions let Africans swallow hook, line and sinker. After going up stream to dirty the African socioeconomic life this shameless woman has run down to tell us that the river is dirty down stream. Just ignore anything that this woman says because she is not credible and reliable when issues are about socioeconomic development of Africa.
Good points, madam. I hope policy makers, ministers, mps and the President take note. Getting 3 percent royalties from mining based on 1990 prices is INSANITY if not evil.
Des polititicians go kill us all. Gold price de go UP, Oil price dey go UP. Yet no water de come for pipe, no electricity dey come for light, no jobs dey come for us, and money dey come for pocket ! Wetin we go do OOOOOOOOO ...
read full comment
When we complicate simple issues we create a gray area for politicians to perpetrate their crimes. The politicians know that these contracts are BOGUS and only serve their selfish interests. If we made it a crime to enter i ...
read full comment
This IS SIMILAR to what I've been asking all along.......DO OUR NEGOTIATORS UNDERSTANT the long term IMPLICATIONS of ALL they sign in the name of Ghana?? NO !
There was this Fin. Min.from GHANA, who was supposed to have sign ...
read full comment
I just wrote an article on this subject this year. Beleive me, we do not have to give out our minerals anymore to these gangsters called investors or multinational corporations. We must mine the minerals ourselves. These guys ...
read full comment
EXCELLENT POINT AND THIS IS THE CAUSE OF AFRICA POVERTY AND CONTINUES TO BE. IGNORANCE, LACK OF VISION, GREED AND CORRUPT, SELFISH. AS RESULT CONTRACTS ARE SIGNED IN A HASTLY MANOR WITHOUT THINKING FUTURE GENERATION FOR JOBS ...
read full comment
Out of the jubilee oil negotiations emerged millionaires who belong to the NPP.They got 3 percent oil royalties from the oil companies and this no doubt contributed to the nation getting only 10 percent.
Salient quote from the Minister:
“We (African policymakers) need to do our homework thoroughly before we begin contract negotiations with foreign oil or mining firms.
“In many cases, there is a wide information asym ...
read full comment
Too many Phds in Africa but they in to fill their pockets.
All down to African God and pastors. Not easy for the poor.
We are fed up with this galamsey people. gov't has to be very serious in dealing with the menace
Dr. Ngozi Okongo-Iweala is just a double tonged person. The woman worked at the World Band and was one of those who supervised the sheepish and slave economic road maps that the Breton Woods Institutions let Africans swallow ...
read full comment