Business News of Monday, 12 November 2012

Source: myjoyonline

Gov’t-private partnership urged in establishing Gold Exchange & Technology Park

Private investors are being encouraged to partner government to establish a Gold Technology Park and Gold-Exchange in the country.

SAFDICO Botswana, a diamond cutting and polishing company has taken a similar step by partnering Botswana government to establish a Diamond Technology Park and Diamond Exchange in that country.

The Chief Executive of SAFDICO Botswana, Rutang Moses explained to Joy Business that Ghana needs to take a cue from this to maximize the benefits of the gold resource to the economy.

“…Gold is a main contributor to your [Ghana’s] economy, there should be a focus around what else the gold provides for people to have more jobs and therefore the Gold Park should be the support service around the mining of gold…” she stated.

Rutang also outlined the economic benefits Ghana could derive from establishing a Gold-Exchange, citing their experience with the Botswana Diamond Exchange.

“The Diamond Exchange activities are bringing in other ancillary businesses; not just the mining, not just the cutting and polishing. Like I said, the support services… companies to transport these diamonds from your outside city mines to the centre, it needs a specialized service: security companies, you will need diamond brokers, you will need diamond banks to support those who are buying…

“Those alone give opportunities to entrepreneurs locally,” she added.