“For my mouth will speak the truth, wickedness is an abomination to my lips.” – Proverbs 8:7, Holy Bible.

This powerful biblical quote reminds us, as creations of the Almighty, to speak the truth and nothing but the truth.

In our efforts to reset Ghana, we must adopt a critical mindset in discussions on national issues to ensure progress.

This submission is in response to an article reportedly written by Martin Kpebu Esq, which alleged corruption and conflicts of interest in the sale of an 80% stake in the Ghana Bauxite Company Ltd (GBC) to Ofori-Poku Company Ltd.

Mr Kpebu’s article called for a forensic audit into the matter.

As a former Army Officer with experience in the mining industry and a student of security risk management, I decided to investigate this matter further to contribute to Ghana’s betterment, as part of President Mahama’s vision for progress.

I conducted an in-depth investigation into the history of bauxite in Ghana, tracing it back to 1921 during the Guggisburg era, a time when bauxite was first discovered.

Many, including President Mahama, should be proud of the contributions of Ofori-Poku Company Ltd, and its owner, Mr. Ofori Opoku, for their role in helping to boost the 24-hour economy, a vision that will materialize in the shortest possible time.

It is important to acknowledge the alignment of Mr. Ofori-Poku’s efforts with the vision of President Nkrumah and that of Brigadier General Sir Frederick Guggisburg, the architect of much of Ghana’s economic and infrastructural development.

A historical context of Ghana’s bauxite industry

Brigadier General Guggisburg, initially a surveyor in the Gold Coast in 1902, set up the Geological Department and played a crucial role in the discovery of bauxite in 1921.

Guggisburg’s development master plan laid the foundation for the growth of Ghana’s mining industry.

This included the establishment of the Takoradi Harbour for the exportation of timber, cocoa, manganese, and bauxite.

President Nkrumah continued Guggisburg’s work, making significant strides in the country’s economic and infrastructural development.

Guggisburg is also credited with creating the first accurate map of Ghana.

His efforts were instrumental in the early days of the mining industry, particularly with the vision of refining bauxite in Ghana, which was later realized through projects like the Volta River Project and the creation of VALCO (Volta Aluminium Company).

Ofori-Poku Company Ltd’s role and the sale of GBC

In the early years of Ghana’s independence, the government worked closely with multinational companies such as Alcoa to mine and refine bauxite.

Over time, Ghanaian ownership in the sector increased, with the government acquiring stakes in various companies, including Ghana Bauxite Company (GBC).

However, despite efforts to boost the industry, GBC faced challenges due to low production and high operating costs.

In 1997, the government sold a portion of its stake in GBC to Alcan, and later to Bosai Minerals Group of China in 2010.

Ofori-Poku Company Ltd became involved in hauling bauxite for GBC in 1997, and in 2010, it took over mining operations on behalf of Bosai Minerals.

When Bosai Minerals’ mining lease expired in 2021, the Ghanaian government refused to purchase the 80% stake in GBC, citing concerns over value for money.

The stake was then sold to Ofori-Poku Company Ltd, which has continued to make significant contributions to the sector.

Addressing allegations of corruption

Despite allegations from Mr Kpebu Esq about possible corruption in the sale of GBC to Ofori-Poku Company Ltd, it is important to recognize that the sale was conducted per global principles of transparency and accountability in the mining industry.

The transaction followed established procedures, including the Arm’s Length Principle, which ensures that such deals are based on market value and fair pricing.

The sale price of GBC’s stake was determined by market factors such as bauxite reserves, global bauxite prices, and production costs.

Ofori-Poku Company Ltd did not set the price of bauxite or the reserves; these were publicly available information disclosed by GBC.

Mr Kpebu’s suggestion that the price at which GBC was sold was unusually low overlooks the complexities of the mining sector, where pricing can fluctuate due to various factors, including the volatility of commodity prices and market demand.

A call for recognition of Ofori-Poku’s contributions

Mr Ofori-Poku and his company must be recognized for their contributions to Ghana’s 24-hour economy project.

Ofori-Poku’s efforts align with the vision of President Nkrumah, General Guggisburg, and the development of Ghana’s mining industry.

He deserves commendation for his role in strengthening the mining sector and making bauxite mining more sustainable in Ghana.

The mining industry operates in a highly competitive and complex environment, often involving multinational companies with significant resources and influence.

Ofori-Poku has been instrumental in revitalizing Ghana’s bauxite sector, and his company has gained valuable experience in mining and bauxite hauling.

Conclusion

In conclusion, the allegations of corruption surrounding the sale of GBC to Ofori-Poku Company Ltd are unfounded.

The transaction was conducted transparently and by global mining industry practices.

Ofori-Poku Company Ltd’s efforts should be applauded for contributing to Ghana’s economic progress, especially in realizing the vision of a 24-hour economy.

I encourage all stakeholders, including President Mahama and Mr. Gossie Tanoh, to support Ofori-Poku Company Ltd’s continued success.

Together, we can continue to build on the achievements of the past and ensure a prosperous future for Ghana.