Ghana not making profit from mineral reaoources-economist alleges

Charted Economist and Chief Executive Officer for  DUMAT AFRICA has said, Ghana has no share in the mineral resources that are being exploited here as foreign companies end up gaining more at the expense of the country.

"This is a disgrace to the country. We do not even gain up to 15 per cent in the mineral resources", he fumed.

According to him,  this has been creating a deficit on the balance sheet as the country’s share cannot pay for its expenditure on the exploitation. 

He said, " the numerous tax exemptions given to foreign investors has been affecting the country. These foreign investors end up going away with profit without leaving any benefit in return to the country".

He was speaking on Issues on Ark monitored by Soiree News whiles discussing the current economic situation in the country which forced the finance minister to announce some cuts in government expenditure.

"It is worrying, as we spend more on the balance of trade which should be a profit for us but Ghana’s situation is the opposite since the foreign companies rather enjoy from our labour", the charted economist stressed.