CEO Of Akonta Mines 'Gold Bank' Idea The “Best” Initiative To Sustain Ghana's Economy - Bright Nyampong | Economy

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 the government of Ghana is looking at profiting from the royalties they get from operations of miners, he 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 the 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.