Accra: Governance and digital transformation strategist George Spencer Quaye has praised the transition of the Damang Mine to Engineers and Planners (EandP), a wholly Ghanaian-owned company, as a significant moment in the nation's economic history. Quaye asserts that this event is not merely a corporate transaction but a monumental shift towards full Ghanaian ownership and control of the country's substantial natural resources.
According to Ghana Web, Quaye emphasized the importance of this transition, viewing it as a critical shift in Ghana's economic narrative from participation to ownership, and from foreign dependence to national leadership. He highlighted the strategic importance of this development, noting the long-standing history of foreign control over Ghana's resources. Quaye attributed this milestone to the policies under President John Dramani Mahama, who laid the groundwork for indigenous firms to lead in the commanding heights of the economy.
Quaye recalled President Mahama's vision of empowering Ghanaian businesses to take control of the nation's wealth, a vision that dates back to 2016. Mahama advocated for Ghanaians to lead in critical sectors such as mining, energy, and infrastructure. Quaye believes that the Damang takeover is the first visible manifestation of that vision. He drew parallels between Mahama's policies and the Pan-Africanist ideas championed by Ghana's founding father, Osagyefo Dr. Kwame Nkrumah.
Quaye stressed that for Ghana to achieve sustainable prosperity, its people must own and control the productive sectors of the economy. He asserted that wealth equates to ownership, and the Damang takeover marks the beginning of a new era where Ghanaian entrepreneurs and companies are central to economic success. He sees this as the start of a broader national agenda aimed at increasing Ghanaian ownership across all key sectors.
Quaye called for a coordinated effort involving policy alignment, financial support, and institutional backing for indigenous businesses to ensure that the Damang moment has a lasting impact. He urged the government, private sector, and financial institutions to work together to reinforce local ownership in the country's economy. With the Damang takeover, Quaye believes Ghana has entered a new era where the country can begin to realize its full economic potential, warning that prosperity will remain borrowed until Ghanaians own and lead in the commanding heights of the economy.