June 09, 2023

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Use proceeds of natural resources to eliminate poverty – AngloGold Ashanti boss

The General Manager of Anglogold Ashanti Obuasi Mine, Eric Asubonteng has urged African leaders to use the proceeds of the natural resources to advance the frontiers of sustained economic development.

According to him, effective utilization of these resources will improve the social transformation of the poor for national development.

“The ordinary African must taste the good of our land. This cannot happen if our leaders, which include all of us gathered here, fail to play active roles in the determination of the use of our resources,” he stressed.

Mr. Asubonteng made the call at the 6th AngloGold Ashanti Lectures on Business in Africa in partnership with the Institute of African Studies (IAS), at the University of Ghana on the topic ‘African Rising: Wheel of Fortune or Genuine Social Transformation”.

He noted that the endowment of natural resources must be a blessing and not a curse, stressing that, mining should be the basis for economic development and if it is woefully mismanaged, it affects development.

“We have a rich human and natural resources to take ownership of our own destinies and to deliver the transformation that is so much required on the continent,” he added.

Mr. Asubonteng said the lecture was to stimulate and raise national consciousness about the need to carry out the country’s affair
in ways that addresses peculiar needs.

He said African countries had a rich blend of human and natural resources to take ownership of their own destinies as well as deliver the transformation required on the Continent.

“At Anglogold, any discussion around Africa rising would not be complete without touching on the contribution of mining to national development.

“It is for this reason that sustainable development remains integral to our operations to make the communities in which we operate better,” he added.

Mr. Asubonteng said AngloGold remain committed to promoting study and research opportunities through long-term partnerships with key educational establishments such as the IAS, aimed at supporting education and business to change the Africa story.

Also, the keynote speaker, who is the Regional Standard Chartered Chief Executive Officer for South and Southern Africa Region, Mr. Bedu-Addo, emphasized the need for Africans to play their respective roles in restoring Africa’s march to its rightful place on the world stage.

He indicated that all Africans are expected to play their roles in restoring Africa’s march to its rightful place on the world stage.

Mr. Bedu-Addo also called for the introduction of social accounting metrics to hold governments accountable to the public.

He said the accounting metrics must be strictly transparent and independently monitored to ensure that governments across the region took decisions to the benefits of the citizenry and create value for the next generation.

“The metrics must be able to measure the quality of education, health and other infrastructure development to ensure there was value for money,” he said.

This lecture series is held in October as a major event on the University of Ghana’s academic calendar under the auspices of the Kwame Nkrumah Chair in African Studies.

Credit: MyJoyOnline.com

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