A political analyst and a financial engineer Mr. Alex Emmanuel Nti is blaming wicked and corrupt leaders as the cause of bad natural resource negotiation of the economic woes of Ghana.
Speaking on Plan B FM’s late afternoon show EBAANOSEN hosted by Ohene Kinnah, Mr. Nti explained that the situation has compelled Ghanaian leaders into signing unfavorable international contracts, especially renewable resources.
According to him, the situation has resulted in an increase in insurgence in most African countries including Ghana.
Most of the resources discovered in the continent have turned out to be a curse rather than a blessing because of poor negotiation.
He is therefore worried that African leaders channel their resources into less important things.
Meanwhile, Former Chief Justice Sophia Akuffo has insisted that the lithium agreement Ghana signed is not in the best interest of the country.
She explained that it is only persons who have certain undue benefits from the deal that will say the deal is beneficial.
She asserted that “People’s undue benefits must be floating around somewhere that is why somebody will find this a perfect, wonderful lease agreement. All forms of extraction methods are much better, a lease is not necessarily the best methodology, there are so many other best methodologies. There is a joint venture, there is a service contract, and that even the service contract of many different permutations.”
The former Chief Justice said Ghana could have negotiated a better deal while emphasizing that the deal would have changed the country.
“This deal is not the best for Ghana. It is like percentages, what is the base figure? If you are from some super miserable formulation to this then we will say that is the best Ghana has had. Yes, maybe it is but it is not the best Ghana could have had,” she pointed out.
Ghana signed a 15-year lease agreement with lithium mining company Barari DV company.
The deal includes a 10% royalty and 13% free carried interest by the state, surpassing the existing 5% and 10%, respectively, for other mining agreements.
Although some persons have lauded the agreement, other key stakeholders have argued that it is not beneficial to the country.
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