USE PROCEEDS OF NATURAL RESOURCES TO ELIMINATE POVERTY - ANGLOGOLD ASHANTI BOSS

Use proceeds of natural resources to eliminate poverty - AngloGold Ashanti boss

Source: Ghana | Adomonline.com | Adwoa Gyasiwa Agyemang
Date: 22nd-october-2017 Time:  3:29:27 pm

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The General Manager of Anglogold Ashanti Obuasi Mine, Eric Asubonteng has urged African leaders to use the proceeds of the natural resources to advance the frontiers of sustained economic development.

According to him, effective utilization of these resources will improve the social transformation of the poor for national development.

“The ordinary African must taste the good of our land. This cannot happen if our leaders, which include all of us gathered here, fail to play active roles in the determination of the use of our resources,” he stressed.

Mr. Asubonteng made the call at the 6th AngloGold Ashanti Lectures on Business in Africa in partnership with the Institute of African Studies (IAS), at the University of Ghana on the topic ‘African Rising: Wheel of Fortune or Genuine Social Transformation”.

He noted that the endowment of natural resources must be a blessing and not a curse, stressing that, mining should be the basis for economic development and if it is woefully mismanaged, it affects development.

“We have a rich human and natural resources to take ownership of our own destinies and to deliver the transformation that is so much required on the continent,” he added.

Mr. Asubonteng said AngloGold remain committed to promoting study and research opportunities through long-term partnerships with key educational establishments such as the IAS, aimed at supporting education and business to change the Africa story.

Also, the keynote speaker, who is the Regional Standard Chartered Chief Executive Officer for South and Southern Africa Region, Mr. Bedu-Addo, emphasized the need for Africans to play their respective roles in restoring Africa’s march to its rightful place on the world stage.

He indicated that all Africans are expected to play their roles in restoring Africa’s march to its rightful place on the world stage.

This lecture series is held in October as a major event on the University of Ghana’s academic calendar under the auspices of the Kwame Nkrumah Chair in African Studies.

M. Pityana, Chairman of AngloGold Ashanti has urged African leaders to use the proceeds of the natural resources to advance the frontiers of sustained economic development.

He said they should ensure that economic development is inclusive, and that, effective utilization of these resources must improve the social transformation of the poor for national development.

He said countries with rich natural resources that seem unable to utilize the resources to create prosperity and economic growth has been a major challenge for most resource-endowed countries on the African continent.

Mr Frederick Kwesi Attakumah, Managing Director of AngloGold Ashanti, Ghana, said the IAS collaborated with AngloGold Ashanti to establish a Kwame Nkrumah Chair in African Studies to honour his intellectual contributions and for his vision and commitment to the liberation and development of Africa.

He said the platform provides opportunity to discuss topical and innovative business ideas and practices that seek to radically transform the African situation for the benefit of all and sundry.

Mr Attakumah said AngloGold Ashanti initially provided 400,000 dollars towards the Chair when it was launched in 2007 and continues to fund the annual lectures on Business in Africa.

He said AngloGold remain committed to promoting study and research opportunities through long-term partnerships with key educational establishments such as the IAS, aimed at supporting education and business to change the Africa story.

 

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