An attentive audience at the lecture
Mr. Sipho Pityana, Chairman of the AngloGold Ashanti Limited delivering the lecture
Citing the “Dutch disease” in the Netherlands as an example, Mr. Pityana referred to countries such as Bolivia, Chile and the Zambia, which are supposed to be “blessed “with an abundance of natural resources. He noted that due to a “Resource Curse,” these countries had been unable to use their wealth to boost their economies, and that “contrary to expectations, these countries had lower economic growth than countries with a paucity of mineral wealth.” He stated that some of the reasons for this paradox include among other things, the volatility of revenue from natural resources due to exposure to global commodity market swings, and the loss of skilled workers in some sectors as they migrate to mining. Other reasons are the resentment of local communities, and the displacement of subsistent agriculture despite the fact that mining (including artisanal mining) offers a greater boost to Gross Domestic Product than the activity it replaces.
According to Mr. Pityana, given the political, economic and corporate will, Africa’s resources could be developed within the right framework, and managed with the right intent and diligence as a powerful force for good. “This requires amongst other things,an enabling policy, transparent and accountable governance, competitive investment capital and appropriate human capital.” He described as very important and timely, the initiative by the Ghana Chamber of Mines to work with government as well as other stakeholders to draw the greatest possible benefit from the gold mining industry for the entire society. He, therefore, urged mining companies to work with governments, communities and NGOs to help find ways to better ensure responsible mining.
Mr. Pityana also referred to a range of mining initiatives on the continent such the African Mining Vision (launched by the AU/UNECA in December, 2011) as well as the Open Government Partnering and the Extractive Industries Transparency International Initiative – these initiatives seek to promote and underpin a long term and sustainable vision. He cited AngloGold Ashanti as one of the public companies that promote transparency and accountability in their dealings with governments.
Prof. Henrietta J. A. N. Mensa-Bonsu, Director of LECIAD and Chairperson
In her remarks as Chairperson, the Director of the Legon Centre for International Affairs and Diplomacy (LECIAD), Prof. Henrietta J. A. N. Mensa-Bonsu, observed that mining companies could be development catalysts that could influence the governments they dealt with so that the benefits of the industry could be felt. She called for honest and frank dialogue that would help shape the expectations of mining communities. She also stressed the need to regulate artisanal mining because it was just as capable of destroying the environment with even less capacity than the big companies. “It is a security risk to everyone if lives are not transformed by the exploitation of these resources,” she noted.
Prof. Esi Sutherland-Addy, Acting Director of the IAS delivering the welcome address
Earlier in her welcome address, the Acting Director of the Institute, Prof.Esi Sutherland-Addy, stated that the lecture series is one of the innovative programmes developed by the Institute in furtherance of its search for fruitful collaboration between academia and business. She added that the Institute’s relationship with AngloGold Ashanti was in line with the vision of Dr. Kwame Nkrumah for the Instituteto “make a specific contribution to the advancementof knowledge about the peoples and cultures of Africa.”
Professor Sutherland-Addyused the occasion to celebratethe first and second occupants of the Kwame Nkrumah Chair in African Studies (Professor Kofi Anyidoho and Professor Emeritus Jacob U. Gordon) for their contributions towards the work of the Institute. She was proud to inform the audience that the Kwame Nkrumah Chair in African Studies had been adjudged the best of the Endowed Chairs in the University.
Mr. Fred Attakumah, Managing Director of AngloGold Ashanti (Ghana) Limited
The Managing Director of AngloGold Ashanti (Ghana) Limited, Mr. Fred Attakumah, in brief remarks, noted that natural resources in the continent had not had any meaningful impact on the socio-economic situations of African countries. He was hopeful that policy makers and business leaders as well as civil society organizations would make use of new perspectives from the lecture to the benefit of Africa and her people.
At the end of the lecture, Mr. Pityana and the AngloGold Ashanti Ghana Team took time to answer questions from the audience.
The Annual AngloGold Ashanti Lecture on Business in Africa was instituted under the auspices of the Kwame Chair in African Studies with core funding from AngloGold Ashanti Ghana Limited. The Chair was established in 2007 to promote research, teaching and outreach on Africana Studies. Since its inception, four lectures have been delivered respectively by Mr. Mark Cutifani, former Chief Executive of AngloGold Ashanti Ghana Limited, Mr. Tony Oteng-Gyasi, former Chairman of the University Council, Mr. Tito Mboweni, Chairman, Board of Directors of AngloGold Ashanti and Mrs. Felicity Acquah, former CEO of Eximguaranty Ghana Limited.
The lecture brought together both Senior and Junior Members. Also present were the Pro-Vice-Chancellor, Office for Research, Innovation and Development, Professor John Gyapong, traditional leaders from the mining areas of Ghana as well as officials from AngloGold Ashanti Ghana Limited (the main sponsor of the lecture series).
The Ghana Dance Ensemble, the resident dance company of the Institute, was in attendance to grace the occasion with a royal Kete dance and a seperewa appellation to herald the speaker.
A seprewa performance at the lecture. Looking on are from left, Prof. Esi Sutherland Addy, Acting Director of the Institute
