Revamp Ghana’s Mining Laws to Boost Local Gains – Sophia Akuffo

Former Chief Justice and Distinguished Fellow of the Institute of Economic Affairs (IEA), Justice Sophia Akuffo, is calling for a thorough review of Ghana’s mining agreements to ensure the country benefits more from its natural resources.

She argues that current agreements resemble outdated colonial-era contracts, favoring foreign companies while Ghana receives only a fraction of the revenue.

Addressing a press conference on optimizing Ghana’s natural resource benefits, Justice Akuffo stressed the need for urgent policy reforms to promote local value creation and economic transformation.

She proposed forming a five-member expert committee to assess and recommend amendments to Ghana’s natural resource laws, ensuring the country maximizes its returns.

Additionally, she suggested revising the Minerals and Mining Act, 2006 (Act 703) to grant local governments greater control over certain mineral resources, enabling District Assemblies to play a direct role in their management.