Ghana’s Incoming President Akufo-Addo Promises to Develop Country’s Bauxite Deposits
16 February 2017 by Staff
Ghana’s new president Nana Akufo-Addo says he plans to make good on a campaign promise to develop the country’s bauxite ore deposits.
Addressing a domestic audience over the weekend, Akufo-Addo said that the country will begin to exploit bauxite deposits at Kyebi and Nyinahin in order to produce machinery that will establish industries that will provide jobs for the country’s youth.
“These include, but not limited to, an iron and steel industry, which will exploit the iron ore deposits at Oppon Manso and Sheini, near Tamale, and facilitate the manufacture of machine parts and equipment; an integrated aluminium industry, which will exploit the bauxite deposits at Kyebi and Nyinahin; petrochemical industries from oil and gas deposits from the Jubilee, TEN and Sankofa fields; and vehicle assembly plants,” he explained.
Akufo-Addo went on to say that the country’s economy has not progressed as far as it should have in the sixty years since its independence from the United Kingdom. He said that the time has come for the government to take action to put the country in a position to enhance the economy and the lives of its citizens.
“Over the course of the last three elections, one consensus seems to have emerged across all the various political groupings – we are all agree that the economy of Ghana has to be transformed to make it a high-income economy,” he went on.
“Graduates from our educational institutions should enter the labour market, well-equipped with skills for good, well-paying jobs. To do this, our country must move from an economy dependent on the export of raw materials, to an economy of value-addition. We must process the natural resources we have, to enable us reap higher benefits.”
Akufo-Addo was elected the fifth president of Ghana in December, defeating incumbent John Mahama. His campaign largely focused upon alleviating the country’s youth unemployment rate, which ranks among the highest in the world.