The “best idea” to initiate in sustaining Ghana’s economy, would be to follow the advice from the CEO of Akonta Mines Limited for Ghana to set up a gold bank and ensure people save with gold, Bright Nyampong has said.
Mr. Nyampong, the New Patriotic Party’s (NPP’s) Youth Organizer for the Obuasi West Constituency, lauded the idea by Mr. Bernard Antwi-Boasiako aka Chairman Wontumi, noting that it was the “best” way the economy of Ghana can withstand external shocks like COVID and wars.
Speaking on Wontumi TV which was monitored by Wontumionline.com, Mr. Nyampong stated that implementing the gold bank initiative would attract people to come to Ghana and save.
He therefore called on the technocrats to work on implementing the idea proposed by the CEO of Akonta Mines Limited.
“If we listen to Chairman Wontumi people would run to Ghana for business…It would help our economy and strengthen it making it immune to global crisis”, Mr. Nyampong said.
In the wake of the government of Ghana’s debt restructuring programme, Mr. Nyampong is of the opinion that one of the best way to go is to listen to proposal by Chairman Wontumi for the nation to have a gold bank and save with gold.
“In the month of December, the best initiative for our economy to rise, the credit goes to CEO of Akonta Mines. The best initiative ever goes to CEO of Akonta Mines. This is the same person some persons wanted to collapse his business but the best suggestion to aide our economy is coming from him”, Mr. Nyampong said.
Hope of Gold; hope of Ghana Economy
CEO of Akonta Mining Limited, Mr. Bernard Antwi-Boasiako, is suggesting that there is hope for the Ghanaian economy, if government would strive to ensure that 10 million people out of our current population, is made to own a kilo of gold.
He dubbed the operation ‘Hope of Gold; hope of Ghana Economy’.
Mr. Antwi-Boasiako popularly known as Chairman Wontumi revealed that the value of a kilo of gold on the world market is around GHC678,000 and added that if 10 million Ghanaians owned a kilo each, it would boost the economy.
Chairman Wontumi continued that if the plan is extended to our 30 million plus population, it would automatically increase the nation’s international reserves which would eventually make our currency stronger against the dollar.
Ghana To Setup A Gold Bank
The owner of Akonta Mining Limited, Mr. Bernard Antwi-Boasiako is calling on major good mining firms to come together and endorse his proposal for a Gold Bank to be set up in Ghana just like farmers have set up the Agriculture Development Bank.
In a keynote address delivered at a strategic mining workshop held at Best Atlantic Hotel in Takoradi, Mr. Antwi-Boasiako popularly known as Chairman Wontumi stated that setting up a gold bank would be good for Ghana’s economy.
He explained that setting up a gold bank would be a foundation for investors and Ghanaians to be given huge loans for business operations which would impact positively on the economy.
Chairman Wontumi stated that inasmuch as government of Ghana is looking at profiting from the royalties they get from operations of miners, it should look beyond it and endorse and work at establishing a gold bank for citizens to save with gold.
He also addressed the difficulties local large scale mining firms encounter by mentioning that finding investors, is their main problem.
He therefore called on government to extend a hand to their operations adding that “without the support from government, it would be difficult for us reach our goals. I am happy MIIF is here…it has to help the local large scale miners so that we can have funds for our operations.”
Chairman Wontumi indicated that if government supports the operations of local large scale miners, it is assured majority of the profits they make from their business would be retained in Ghana unlike foreign mining companies who take their profits out.