We value your privacy

We use cookies to enhance your browsing experience, serve personalized ads or content, and analyze our traffic. By clicking "Accept All", you consent to our use of cookies. Cookie Policy

Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

ADVERTISEMENT
Africanian
  • News
  • News 24/7
  • Politics
  • Business
  • Health
  • Sports
  • Travel
  • World
    • US
    • Russia
    • Europe
    • Asia
    • America
  • Events
No Result
View All Result
Africanian
No Result
View All Result
Home Business

Ghana: Local procurements under mining local content increases exponentially

Progressively from 2014 to date, the country has been able to retain a total of over US$ 1.42 billion through local procurement which otherwise would have been used to import production inputs for the industry.

in Business
Reading Time: 2 mins read
1 0
0
Ghana: Local procurements under mining local content increases exponentially
0
SHARES
Share on FacebookShare on TwitterShare via Whatsapp

Cumulatively, for a period of more than five years, the mining sector local content framework has resulted in the retention of huge amount of capital resources in Ghana, promoting local employment and the growth of domestic manufacturing.

The total annual value of local procurements made in the mining sector grew by 165.85 percent from 2014 to 2018. Although 2019 figures are under review, the Minerals Commission indicates that the expenditures through local procurement continued on this growth trajectory last year as well.

In 2018, the total local procurements made were about US$ 394.09 million, up from US$ 148.24 million in 2014. This is made of both actual locally manufactured mining products required in the industry, as well as mining products imported by local companies.

Local procurement of mining products manufactured in-country grew from US$ 143.36 million in 2014 to US$ 252.93 million in 2018, and this is further expected to increase when figures for2019 are released.

The Director of the Policy Planning and Minerals Titles Directorate of the Minerals Commission, Mr. Collins Anim-Sackey indicated that, it has become imperative that the regulatory body [Minerals Commission] and government ensure that the mining companies deepen the use of local content in their operations.

More

Nigeria accelerates economic transformation with key reforms and signs of recovery

Rwanda combines youth innovation and circular economy to build a resilient nation

7 Tracks, 1 Future: AfriLabs Annual Gathering 2025 Sets the Stage for Africa’s Innovation Renaissance

“If we are able to ensure that we have companies established in-country, that are producing these item [mining products) then we will have the resources remaining in the county. This will contribute to job creation and taxes to government,” Mr. Anim-Sackey said.

Under Act 703 and L.I. 2173 mine support service providers, holders of mineral rights and holders of licence to export or deal in minerals are required to submit 5-Year Procurement Plans to the Mineral Commission.

The 5-year Procurement Plan shall specify the targets for local procurement covering at least the items specified in the local procurement list as provided for in the regulation.

Also, the plan must indicate other measures to develop the supply of local goods and services, including broadening access to opportunities and technical and financial assistance for local suppliers as well as giving of preference to the company with the highest Ghanaian content where competing bids are within two percent of each other by price.

Products required under Act 703

The current local procurement list includes Grinding Media Explosives (Emulsion) Cement & Cement Products/Grout Quick & Hydrated Lime Electrical Cables (PVC) Pipes General Lubricants Re-Treading of Tyres.

The others are Bolts and Nuts, Crucibles Plastic Sample Bags, Calico Bags, Bullion Boxes, Conveyor Rollers, Metal/PVC Core Trays, Overalls & Working Clothes, High Density Polyethylene & Polyvinyl Chloride, Chain Link Fencing/Wire Netting/Barbed Wire, Haulage Services & Catering Services. Security Services.

Source: Ghana Web
africanian

africanian

  • Trending
  • Comments
  • Latest
Rwanda combines youth innovation and circular economy to build a resilient nation

Rwanda combines youth innovation and circular economy to build a resilient nation

July 3, 2025
7 Tracks, 1 Future: AfriLabs Annual Gathering 2025 Sets the Stage for Africa’s Innovation Renaissance

7 Tracks, 1 Future: AfriLabs Annual Gathering 2025 Sets the Stage for Africa’s Innovation Renaissance

June 25, 2025
Kenya: a business blossoming from the soil

Kenya: a business blossoming from the soil

June 23, 2025
Lesotho increases blood collection by 70% between 2017 and 2024

Lesotho increases blood collection by 70% between 2017 and 2024

July 8, 2025
Nigeria accelerates economic transformation with key reforms and signs of recovery

Nigeria accelerates economic transformation with key reforms and signs of recovery

July 7, 2025
RevUp Women Initiative Launches Nigeria Edition at Lagos Startup Week 2025

RevUp Women Initiative Launches Nigeria Edition at Lagos Startup Week 2025

July 5, 2025
Twitter Instagram Youtube Facebook
No Result
View All Result

Africanian News

Is a dedicated project aimed at amplifying the voices of the African Ecosystem and Diaspora. We actively collaborate with initiatives to improve access to education and digital inclusion, both in traditional schools and through digital platforms, for African children.

It’s crucial to emphasize that none of the articles or images featured on our platform are intended for copyright infringement, neither now nor in the future. If you believe that any information, text, image, etc., may be subject to copyright and should be removed, please notify us by sending an email to info@africanian.com

Your dreams matter; your stories matter.

Feel free to explore collaboration opportunities with us. Share your articles, thoughts, interviews, experiments, or no-comment videos by reaching out to info@africanian.com. You can also subscribe to our mailing list to receive the latest updates from Africanian News.

© 2024 Africanian News: From Africa, by Africans, for Africa, and friends of Africa.

No Result
View All Result
  • News
  • Politics
  • Business
  • Health
  • Sports
  • Entertainment
  • Tech
  • Travel
  • World

© 2024 Africanian News: From Africa, by Africans, for Africa, and friends of Africa.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Log In

Sign In

Forgot password?

Don't have an account? Register

Forgot password?

Enter your account data and we will send you a link to reset your password.

Back to Login

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Accept

Add to Collection

  • Public collection title

  • Private collection title

No Collections

Here you'll find all collections you've created before.