The vice presidential candidate of the governing New Patriotic Party (NPP), Dr. Mathew Opoku Prempeh, has announced a new initiative to provide financial support for youth in mining communities through small-scale mining setup loans, should the NPP retain power in the upcoming elections.

Speaking at a mini-rally in the Odotobri Constituency, a mining hub in the Ashanti Region, Dr. Prempeh outlined plans to empower young miners by offering them loans to adopt environmentally responsible and internationally recognized mining practices.

He emphasized that many individuals involved in illegal mining, known locally as "galamsey," lack the financial means to engage in legal and sustainable mining activities.

“There are policies governing mining, but because the youth lack the funds, they can’t adopt the best practices, which is why they engage in galamsey. Some foreigners, including Chinese and Indians, are taking advantage of this, pushing them to mine illegally and then purchasing the gold. Others are also sponsoring illegal mining. But if the government provides loans to these community members, the narrative will change,” Dr. Prempeh stated.

The Member of Parliament for Manhyia South further explained that under this initiative, the government would not only provide loans to miners but would also purchase the gold directly from them. By doing so, the government would bypass foreign buyers in the local market, ensuring that more revenue stays within Ghana.

“The government itself will offer loans to the miners and buy the gold from them directly. We will not sell the gold to foreigners in the local market. This will enable the government to raise enough funds for the day-to-day running of the country,” he added.

As a former Energy Minister, Dr. Prempeh expressed confidence that the initiative, if successfully implemented, would create jobs, reduce unemployment, and stimulate economic growth in mining communities. He assured the crowd that the financial benefits would extend to local residents and traditional authorities, helping to promote sustainable development in these regions.

“The mining communities will benefit financially from this project, leading to development and job creation. Traditional leaders (Nananom) will also receive their fair share,” he explained.