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Stephen Yeboah's Blog (27)

What Democratic Republic of Congo's mining reform means for Africa

The Democratic Republic of Congo (DRC) has undertaken a bold reform in its mining sector. In March this year, DRC’s president Joseph Kabila signed into law a new mining code that increases royalties and taxes that mining companies pay. This…

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Added by Stephen Yeboah on April 2, 2018 at 16:00 — No Comments

Developing skills for industrialization in Africa’s extractive industries

The discovery and exploitation of oil, gas and mining usually brings in its wake high expectations of employment opportunities for countries where the resource extraction is taking place. However, there is often a mismatch between these expectations and the actual jobs that the oil, gas and mining sectors can offer. In practice, oil and gas, and to a lesser extent, mining projects in Africa often do not generate much employment locally. This is partly as a result of the capital intensive…

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Added by Stephen Yeboah on September 30, 2017 at 18:22 — 4 Comments

Down the drain? The economic costs of illicit financial flows in Africa’s extractive sector

Resource-rich African countries are facing significant economic headwinds. Nigeria, Africa’s largest oil producer, depends on oil for over 90% of its foreign exchange earnings and three-quarters of government revenue. The slump in oil prices has adversely affected Nigeria’s economic prospects,…

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Added by Stephen Yeboah on July 19, 2017 at 8:17 — 3 Comments

Crops or carats? The unattended tensions between miners and farmers

Artisanal small-scale mining in Africa competes for resources with farming. Shutterstock

The interaction between artisanal (small scale) mining and agriculture in Africa still needs to be carefully considered by…

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Added by Stephen Yeboah on August 24, 2016 at 12:30 — 1 Comment

The Panama Papers and the Africa Story: the murky deals in DRC's mining industry

The Panama Papers are not just about famous people who use offshore accounts to avoid paying tax. They have also lifted the veil on a secret world in which tax havens are used to shift billions out of the world’s poorest countries in Africa.

Look at the Democratic Republic of Congo. DRC has enormous mineral wealth – especially cobalt, copper and diamonds. Yet it has some of the world’s worst malnutrition and child mortality, and millions of children who are not at school.

But…

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Added by Stephen Yeboah on May 17, 2016 at 22:30 — No Comments

Centre for Social Impact Studies: Ghana Government's utilization of GHC 3.6 million to rebrand Metro Mass Transit Buses

How is Ghana using its oil revenues? See this statement by Centre for Social Impact Studies.

We have read with horror and trepidation, government’s decision to use GHC 3.6 million to rebrand 116 Metro Mass Transit buses. According to the 2015 Annual Report on the Petroleum Funds discussed in Parliament, government spent 31,457 cedis on each bus, leading to a cumulative expenditure of GHC 3.6 million. This expenditure…

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Added by Stephen Yeboah on January 13, 2016 at 12:30 — No Comments

'Crops' or 'Carats'? Interaction between gold mining and cocoa production and the livelihood dilemma in Amansie Central District of Ghana

This piece is originally published by United Nations Research Institute for Social Development (UNRISD): http://www.unrisd.org/ystp-yeboah.…

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Added by Stephen Yeboah on November 1, 2014 at 22:18 — 3 Comments

Switzerland must catch up with the global transparency trend

Switzerland can play a crucial role in curbing corruption and mismanagement of Africa’s natural resources by accelerating regulation of its sizeable commodities trading sector.

The Africa Progress Panel (APP) is urging Swiss authorities to demand more transparency of its…

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Added by Stephen Yeboah on April 8, 2014 at 13:13 — 1 Comment

Hopes rise for transparency in the Democratic Republic of Congo

A grim history of secret mining deals in the Democratic Republic of the Congo (DRC) has prevented the country’s mineral wealth from benefiting its 67 million citizens. But political initiatives and international engagement give hope that the DRC is moving more quickly towards greater…

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Added by Stephen Yeboah on January 18, 2014 at 6:00 — 1 Comment

A fair uranium deal could lift millions of Niger's people out of poverty

Niger’s uranium powers one in three light bulbs in France, but delivers little to the Nigerien people. A major uranium producer with a population of just 17 million, Niger is one of the world’s poorest countries. Some 90 percent of its people have no electricity at all.

Niger is clearly not getting a…

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Added by Stephen Yeboah on December 5, 2013 at 19:30 — 1 Comment

Secret Oil Deals with Swiss Companies cost Nigeria Billions of Dollars, Report says

Switzerland must boost transparency and regulation of Swiss and Swiss-registered oil traders, whose practices are draining billions of dollars from Nigeria and complicating impressive efforts to reform Nigeria’s oil industry, including compliance with the Extractive Industries Transparency Initiative…

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Added by Stephen Yeboah on December 3, 2013 at 16:00 — No Comments

African Extractives on the Frontline of Global Struggle for Tax and Commodities

Smart politicians talk about reform but they understand the value of promise without delivery, one academic told participants at a conference in Oxford last week. Organised by Oxfam and Oxford University, the one-day conference discussed how extractive industries can work for African…

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Added by Stephen Yeboah on November 7, 2013 at 22:30 — No Comments

Counting the benefits: Ghana’s oil wealth and development

The extraction of oil and gas generates enormous wealth. It creates powerful incentives that lift economies out of poverty to growth and development. Conversely, oil and gas and largely other natural resources have attracted the perverse phenomenon dubbed the “resource curse”, where the large wealth generated undermine the economic growth of most countries like Gabon, Nigeria, Chad, Sierra Leone, Azerbaijan, among…

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Added by Stephen Yeboah on January 4, 2013 at 19:28 — No Comments

Breaking the Oil Curse: will Ghana cause a miracle?

 Spotlight on mistakes in the oil-rich Niger Delta as vital lessons for Ghana

“Niger Delta is like Florida but we are far behind”, said Barr. G. Pereomongu, General Manager of DAAR Communications PLC, a television (AIT) and radio station (Raypower) that report on operations of oil companies in the Niger Delta adding that “Niger Delta has great fantastic prospects, but what we lack is visionary leadership”.

It has been proven that large wealth generated…

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Added by Stephen Yeboah on November 7, 2011 at 21:36 — No Comments

RED ALERT – GNPC must block Shell’s interest in the Jubilee field!

Reuters news on September 2011 indicates that Shell officials have approached Ghana oil officials to express interest in exploring for oil in the country. Mr. Thomas Manu, Director of Operations at Ghana National Petroleum Corporation (GNPC), was quoted by ghanabusinessnews.com on October 14, 2011 to have said that “talks still ongoing – the licence is for exploration and production but they have to present a paper for review”.

It is significant to mention that as much as Ghana looks…

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Added by Stephen Yeboah on October 19, 2011 at 11:31 — No Comments

Government asked to enhance linkage between academic institutions and petroleum industry

As part of efforts to facilitate and increase the participation of Ghanaians in the fledging oil and gas industry, Centre for Social Impact Studies (CeSIS), a research and advocacy non-governmental organization has called on government to review and improve the relationship between academic institutions and players in the petroleum industry. This is to help achieve the goal of empowering Ghanaians to take over the important positions in the oil and gas industry.

This call was made…

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Added by Stephen Yeboah on October 14, 2011 at 2:31 — 4 Comments

Has Mining served Ghana well?

Has mining really served Ghana WELL? This is the burning question I want to pose to all Ghanaians for individual assessments.

Of course, one would not expect Joyce Aryee as an employee of the Ghana Chamber of Mines, an advocacy organization for multinational mining companies to say that mining has not served Ghana well. Being the Chief Executive Officer of the Ghana Chamber of Mines, expect nothing than a total support to multinational mining companies while hiding the true picture of…

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Added by Stephen Yeboah on August 11, 2011 at 15:23 — 1 Comment

REVIEW STABILITY CLAUSES NOW!

                  PRESS RELEASE

4th July, 2011                                    

For immediate release

REVIEW STABILITY CLAUSES NOW!

In an effort to attract foreign direct investments into the country in the 1980s, the Government of Ghana, under the supervision of the International Monetary Fund (IMF) and World Bank, introduced a number of reforms in the mining sector, which was used as a growth pole…

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Added by Stephen Yeboah on July 5, 2011 at 19:18 — No Comments

Oil is not new to us - People of Bonyere in Ghana declare

Bonyere, farming and fishing community living next to Ghana’s main oil field, the Jubilee Field, has known oil earlier before July 2007 when oil was discovered in commercial quantities in Ghana. The people of Bonyere have declared that oil is not a new thing to them. “This oil has been there since time immemorial” said Peter Nweah, a vibrant community leader, adding that oil is not a new thing to us.

While oil fever gripped Ghanaians when oil was discovered in commercial quantities in…

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Added by Stephen Yeboah on June 23, 2011 at 17:29 — No Comments

Give us land for our future generation - Bonyere charges Government, Energy Ministry over Gas Project

The people of Bonyere, a farming and fishing community living next to Ghana’s main oil field, though fully support the proposed gas processing facility in their backyard say it threatens to deprive future generations access to land for farming and development.

The multi-million gas processing facility to be established by the government at Bonyere is facing a fresh challenge from local people who say the project as it stands threatens their means of livelihood. Though there are agreed…

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Added by Stephen Yeboah on June 21, 2011 at 15:13 — No Comments

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