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“No Blanket Nationalization”: Ghana Moves to Calm Investor Fears After Damang Takeover

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ACCRA — The Ghanaian government has explicitly ruled out a blanket nationalization of multinational mining assets, seeking to reassure investors rattled by its recent decision to take operational control of Gold Fields’ Damang mine.

Following a meeting with the Ghana Chamber of Mines, Lands and Natural Resources Minister Emmanuel Armah-Kofi Buah confirmed that the country has no policy or plan to seize mining assets in a sweeping manner.

The announcement comes barely a month after the government’s dramatic move to reject Gold Fields’ lease renewal for the Damang mine, a decision that sent shockwaves through the sector.

“The government does not have a policy or plan to take over the mining assets of multinational companies in a blanket manner,” Buah stated, according to a Xinhua News Agency report.

Instead, the Minister indicated that each mining lease case would be handled on its own merit, as dictated by the legal and regulatory framework, while pursuing the primary objective of protecting the national interest. The government’s policy is aimed at ensuring a sustainable mining sector that assures returns for investors; promoting technology transfer and expertise development; improving local content; and creating opportunities for local mining communities.

The Damang Precedent and Sector Jitters

Investor anxiety has been running high since April 16, 2025, when the Ministry of Lands and Natural Resources announced it would assume operational control of the Damang Mine of Abosso Gold Fields Limited (AGL) upon the expiration of its 30-year lease on April 18, 2025.

At the time, the government justified the decision based on three grounds, citing the company’s failure to declare verifiable mineral reserves, the absence of a detailed technical program, and a lack of budgetary allocation for exploration over the preceding two years. Gold Fields had halted active mining at Damang in 2023 and shifted to processing stockpiles, with an estimated remaining life of mine of just one year.

However, the move triggered immediate alarm within the industry. The Ghana Chamber of Mines warned that lease revocations and uncertainty surrounding renewals could create the perception that “security of tenure in Ghana is not guaranteed,” potentially affecting investment inflows into the sector.

That concern was amplified in May when the Institute of Economic Affairs (IEA), led by former Chief Justice Sophia Akuffo, called on the government to reject Gold Fields’ reported application for a 20-year lease extension at the Tarkwa mine, arguing that Ghana should seize this “historic opportunity” to reclaim ownership of one of Africa’s largest gold mines.

The Chamber of Mines swiftly rejected those calls, cautioning that public pressure surrounding the renewal process risked undermining legal certainty, regulatory predictability, and Ghana’s reputation as a stable mining investment destination.

The Tarkwa Test Case

The contrasting positions set the stage for a fierce debate over the future of Ghana’s mining sector. The IEA argued that Ghana had little transformative development to show after decades of allowing foreign firms to exploit its mineral resources under what it described as concessionary arrangements rooted in the colonial era, maintaining that Ghana now has the technical expertise and operational capacity to manage the Tarkwa Mine itself .

But the Chamber of Mines pushed back forcefully. Chief Executive Officer Kenneth Ashigbey insisted that discussions must be guided by facts and careful analysis, warning that any move to nationalise operations without broader consultation could negatively affect investments and disrupt sector activities.

Resource governance expert and co-chair of the Ghana Extractive Industries Transparency Initiative (GHEITI), Dr. Steven Manteaw, also pushed back against calls for non-renewal, describing the proposals as “misplaced and completely ill-informed”.

“The oil sector is today struggling to attract investments because Ghana is seen as a hostile destination,” Manteaw warned. “The effect is that our oil sector risks collapse in less than 10 years if the situation remains the same. We must be careful here”.

A “Win-Win” Approach

Buah’s latest assurance—that Ghana remains open to investors based on “win-win” cooperation—appears calibrated to strike a balance between rising nationalist sentiment and the practical need for foreign capital and expertise.

The Minister’s stated goals include ensuring sustainable returns for investors while simultaneously promoting technology transfer, expertise development, local content, and benefits for mining communities.

This approach aligns with the government’s broader policy shift away from what officials have described as the “neo-colonial posturing of automatic renewals” of mining licenses, moving instead toward a thorough reassessment of mining leases to ensure optimal national benefit.

The Tarkwa mine remains a key test case for this new approach. The current lease is set to expire in 2027, and the mine produced approximately 427,000 ounces of gold in 2025. A final decision on its renewal will follow a technical review process that includes presentations to a technical committee at the Minerals Commission and subsequent ministerial-level consideration.

Key Facts at a Glance

AspectDetails
Minister’s StatementNo blanket nationalisation policy or plan
ApproachCase-by-case review based on legal and regulatory framework
Damang OutcomeLease rejected; state assumed operational control (April 2025)
Tarkwa StatusLease expires 2027; renewal under review
IEA PositionCalls for rejecting Tarkwa renewal; advocates Ghanaian control
Chamber of Mines PositionWarns against unpredictability; defends investor confidence
Analyst Warning (Manteaw)Oil sector cautionary tale; risk of “hostile destination” label
Government Stated GoalsTechnology transfer, local content, community benefits, sustainable returns

Ghana News

From Floods to Action: Ghana’s President Unveils Monthly Cleanup Plan

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President John Dramani Mahama on Friday joined thousands of Ghanaians in a nationwide clean-up exercise across the flood-ravaged Accra Metropolis, using the occasion to announce a new policy that would set aside one day every month for community cleaning—a move aimed at transforming crisis response into sustained civic routine.

The two-day National General Cleaning Exercise, which began at 6:00 am on Friday and resumes on Saturday, targets seven flood-affected regions, with Greater Accra alone hosting 104 identified flood-prone locations. At Tse Addo, President Mahama inspected a newly desilted drain, pointing to the volume of plastic waste removed as evidence of the cause behind Ghana’s recurring flooding disasters.

“Clearly, we can see the cause of some of the challenges we face. We have just desilted this drain, and the amount of plastic waste removed from it tells the story,” the President observed. He noted that the quantity of sand and silt accumulated over several years had drastically reduced the drain’s capacity to carry water effectively.

A Systemic Failure Exposed

The President acknowledged that previous clean-up efforts had been undermined by poor disposal practices—silt removed from drains was often left by the roadside, only to be washed back in when the rains returned.

“As part of this exercise, we must ensure that after removing the silt, we have the necessary capacity to transport it away and dispose of it at appropriate locations,” he said, adding that consistent effort over the next year or two would restore the drains’ capacity.

Monthly Clean-Up: From Crisis to Routine

In a significant policy announcement, President Mahama stressed that the cleanup should not be a one-time activity but a continuous national effort, with at least one day set aside every month for communities to clean their surroundings. The proposal signals a shift from reactive disaster response to proactive environmental governance—a model that development experts say could offer lessons for other rapidly urbanizing nations across the Global South.

Plastic Waste: The Hidden Culprit

At Alajo, where the desilted drain forms part of the Odaw stream, the President revealed two major challenges: the accumulation of silt and the presence of plastics and household waste, including discarded building materials, old furniture and dining tables.

“Drains are not dumping grounds,” Mahama stressed, urging residents to make use of skip containers placed across the city for proper collection by waste management companies. His remarks connect Ghana’s flooding crisis to a global environmental emergency—plastic waste clogging urban drainage systems—a problem that resonates from Jakarta to Lagos.

Military Deployment and Funding

The President disclosed that the Minister of Finance had released GH¢150 million to support dredging of streams and other flood interventions. He announced that the Armed Forces would continue the dredging exercise even after the two-day national cleanup program ended, with additional backhoes to be provided to help remove silt and transport it to approved disposal sites.

“Without proper disposal, the same silt and garbage will be washed back into the drains when the rains return,” he warned.

A Warning Against Complacency

In a striking metaphor, President Mahama cautioned against complacency, saying the country must not “behave like the vulture that plans to repair its roof only after the rains have stopped”.

“We must act now. That is why it is important that we clear our drains and waterways,” he stressed.

The President attributed some of the current sanitation challenges to the pressures of urbanization, noting that traditional values around keeping the environment clean had, in some cases, been abandoned as a result of the anonymity that comes with city life. He called for a restoration of that discipline and commended traditional leaders, including Nii Ga, for their support in mobilizing residents.

What Happens Next

The two-day exercise, which requires non-essential shops, markets, and commercial establishments within affected regions to remain closed from 6:00 am to 1:00 pm, is expected to mobilize millions of citizens. Saturday’s phase will shift focus toward community-level activities, with residents, volunteer groups, traditional authorities, and waste management companies taking the lead.

For many Ghanaians, however, the biggest question is whether the monthly clean-up proposal will be sustained—or whether it will fade after the current crisis subsides. The answer may ultimately determine whether Ghana’s latest flood response becomes remembered as a turning point in environmental governance, or yet another missed opportunity.

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Ghana News

Ghana’s Nationwide Flood Clean-Up Kicks Off with Slow Start

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ACCRA, Ghana – July 10, 2026 – A two-day nationwide clean-up exercise across seven flood-ravaged regions began Friday morning sluggishly.

Authorities have been urging residents, businesses, and institutions to ramp up participation as teams work to clear refuse, desilt choked drains, and restore public spaces following recent devastating floods.

The exercise, which commenced at 6:00 am local time, will run until 1:00 pm and resume on Saturday, July 11, during the same hours. While early-morning activity in several metropolitan areas was initially subdued, officials report that momentum is gradually building as local assemblies, waste management contractors, security services, and volunteer groups deploy to designated hotspots.

According to the government’s outlined schedule, the first day focuses on Ministries, Departments and Agencies (MDAs), Metropolitan, Municipal and District Assemblies (MMDAs), public and private institutions, educational bodies, and waste management firms.

Saturday’s phase will pivot toward community-led efforts, tapping into residents, traditional authorities, and volunteer networks to drive localized clean-up at the grassroots level.

In a bid to maximize turnout, non-essential shops, markets, and commercial establishments within the seven affected regions have been ordered to shut their doors from 6:00 am to 1:00 pm on both days, with exemptions granted only to essential and emergency service providers.

The Ministry has called on transport operators, religious groups, and corporate entities to actively back the initiative, framing it as a critical step toward restoring safe, hygienic communities after the flooding crisis.

Greater Accra, the epicenter of the recent deluge, hosts the bulk of the operation, with authorities identifying 104 flood-prone and affected locations across 17 assemblies. Key areas include, Ga South (Tetegu, STC, Mallam East, New Weija), Ga Central (Awoshie, Kolegu, Israel, A-Land), Ga North (Pokuase Footbridge, Ofankor Barrier), and Ga East (Dome Market, Abokobi Drain). In the capital’s core, heavy machinery and manual crews are converging on major drainage arteries such as Alajo, Kokomlemle, Pig Farm, Mamobi, Nima Highway, the Kanda stretch to Kawukudi, and the 37 Hospital corridor. Coastal communities like Teshie-Nungua, Prampram, Sege, and Tema West’s industrial and residential zones are also actively participating.

Despite the tepid start, authorities remain optimistic that participation will surge as the morning progresses, setting the stage for an even more robust community-driven effort on Saturday.

The exercise represents the government’s most visible response to the recent flooding emergency, mobilizing public administration and local governance structures to tackle the immediate environmental and health hazards facing affected populations.

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Ghana News

Top 10 Newspaper Front Page Headlines in Ghana Today: Friday, July 10, 2026

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Top 10 news stories on Ghanaian newspaper front pages dated Friday, July 10, 2026.

1. GHC350m Contingency Fund Release Controversy

  • Appears in: The New Publisher, The Ghanaian Publisher, The Custodian, The Chronicle
  • Summary: The Attorney General is under fire for allegedly instructing the Bank of Ghana to release GHC 350 million from the frozen Contingency Fund for flood relief, despite a court order blocking it. The Minority in Parliament is demanding a probe and blasting the AG’s “lawless” approach.

2. Abu Trica Extradited to US Over $8m Romance Scam

  • Appears in: Daily Guide, Ghanaian Times, The New Publisher
  • Summary: Socialite Abu Trica has been extradited to the United States to face charges related to an alleged $8 million romance fraud scheme. The extradition happened despite a lack of a court order reversing the decision on the Black Volta project (mentioned in related coverage).

3. GJA Gives NDC Chairman Seven Days to Apologise Over Obaatanpa Radio Attack

  • Appears in: Supreme, Daily Guide
  • Summary: The Ghana Journalists Association (GJA) has given the Central Regional Chairman of the NDC a seven-day ultimatum to apologise for an attack on Obaatanpa Radio. The incident has sparked significant backlash.

4. Gomoa East NPP Rallies Behind Francis Mensah for Chairman

  • Appears in: Supreme, The Ghanaian Publisher, The Custodian, The Metro Lens
  • Summary: The Gomoa East Constituency of the NPP is rallying to elect Francis Mensah as the next Constituency Chairman. This grassroots movement is a major story across multiple papers.

5. Azumah Resources Denies Reversal of Black Volta Project Ownership

  • Appears in: News Centa, The Chronicle, Daily Guide
  • Summary: Azumah Resources Ghana Ltd has refuted false media reports claiming that an ICC ruling reversed the acquisition of the Black Volta project. They insist they still own the project, calling the reports “a big lie.”

6. Amankwaa Donates GHC 100,000 Seed Fund to Ayawaso West NPP

  • Appears in: Supreme, News Centa
  • Summary: Samuel Owusu Amankwaa has donated GHC 100,000 as a seed fund to the Ayawaso West Wuogon NPP constituency ahead of the election of new executives.

7. North Dayi Boils Over: “Joycelyn Must Go” Protests

  • Appears in: Supreme
  • Summary: Residents of North Dayi are up in arms, with protests erupting under the banner “Joycelyn Must Go.” The protesters are chanting “Enough is Enough” over local grievances.

8. NHIA Cracks Down on Illegal Charges in Eastern Region

  • Appears in: The Metro Lens
  • Summary: The National Health Insurance Authority (NHIA) has launched a crackdown on illegal charges being imposed on patients in the Eastern Region. The NHIA Boss is leading the effort.

9. $208m Methamphetamine Scandal

  • Appears in: The Ghanaian Publisher, The Custodian
  • Summary: An MP is demanding the prosecution of officials involved in a $208 million methamphetamine scandal. There are also calls for the government to name officials implicated, with accusations of a cover-up.

10. National Sanitation Exercise and Flood Recovery Clean-Up

  • Appears in: Supreme, The Punch, The New Publisher, News Centa
  • Summary: A nationwide clean-up exercise is underway to aid flood recovery, with various political figures and MCEs rallying residents to participate. The exercise is scheduled for the weekend, with a focus on recovery from recent floods.
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