Former Chief Executive Officer of the Precious Minerals Marketing Company (PMMC), now Ghana GoldBod, Nana Akwasi Awuah, has called for the formation of an African Gold Producers Association (AGPA) to bring gold-producing countries together to maximise the benefits of the continent’s gold resources.
He said the growing number of gold refineries being established across Africa provided an opportunity for producing countries to develop stronger cooperation and create synergies in the production, refining and marketing of gold.
According to him, a continental association could help African countries pursue a coordinated strategy to ensure that more value from the continent’s gold is retained within Africa.
Nana Awuah acknowledged that establishing AGPA could take considerable time and proposed the formation of an African Gold Refineries Association (AGRA) as an initial step.
He said bringing the continent’s gold refineries together could provide a platform for cooperation and eventually pave the way for a broader association of gold-producing countries.
“These African countries with gold refineries need to come together as a bloc. I believe the formation of an African Gold Producers Association (AGPA) is long overdue,” Nana Awuah said in a Facebook post on Tuesday, September 29.
He said an association of gold-producing countries would help ensure that member states “retain and maximise the benefits of this precious mineral for the people of their countries and the continent as a whole.”
He added that AGRA could eventually evolve into AGPA as more countries deepen their cooperation in the gold sector.
Nana Awuah said Africa’s increasing focus on domestic gold refining was a positive development but stressed the need for a broader continental strategy to create linkages among countries.
He argued that stronger collaboration could help the continent maximise the economic benefits of its natural resources and strengthen its position in the global gold industry.
“So far, Africa is taking the right decisions as far as its natural resources are concerned. There must be a strategy to create synergies across the continent and one such way is to unite en bloc through these associations,” he said.