Prominent policy analyst and Co-Chair of the Ghana Extractive Industries Transparency Initiative, Steve Manteaw, has proposed a three-point strategy aimed at placing Ghanaians at the centre of the country’s extractive industry while preserving investor confidence.
In a Facebook post on Thursday, May 14, 2026, Dr. Manteaw argued that Ghana must adopt practical ownership and participation models in the mining and petroleum sectors instead of policies that could discourage foreign investment.
His comments come amid growing public debate over mining lease renewals and calls by some groups for government not to renew the lease of Gold Fields.
Reacting to the discussions, Dr. Manteaw cautioned against approaches he believes could send wrong signals to investors.
“Calls for the non-renewal of Goldfields’ lease is misplaced and completely ill-informed. Let’s be careful,” he stated.
According to him, the long-term sustainability of Ghana’s extractive industry depends on empowering Ghanaians through equity participation, local partnerships and capital market inclusion rather than pursuing policies perceived as hostile to investors.
“My 3-point strategy for putting Ghanaians in the driver’s seat,” he wrote, includes encouraging mining companies to list on the Ghana Stock Exchange, converting Ghana’s 10 per cent carried interest in extractive projects into equity, and promoting joint ventures between foreign investors and Ghanaian firms.
Dr. Manteaw cautioned that any approach outside these measures risks making Ghana an unattractive investment destination and could ultimately damage the extractive sector.
“Anything other than this approach risks making Ghana an unattractive investment destination, and will kill the industry,” he stressed.
He further warned that Ghana’s petroleum industry was already showing signs of distress due to declining investor appetite and perceptions of regulatory hostility.
“The oil sector is today struggling to attract investments because Ghana is seen as a hostile destination. The effect is that our oil sector risks collapse in less than 10 years if the situation remains the same,” he stated.
His comments come at a time when Ghana’s petroleum sector is facing mounting production and revenue pressures amid declining crude oil output and reduced exploration activities.
Recent industry assessments have pointed to falling production levels from the Jubilee, TEN and Sankofa oil fields due to operational setbacks, reservoir depletion and reduced investments.
Economic analysts have also warned that continued uncertainty within the sector could further weaken investor confidence and threaten the long-term sustainability of Ghana’s petroleum industry if urgent reforms are not implemented.
Dr. Manteaw is widely regarded as one of Ghana’s leading voices on natural resource governance and extractive sector transparency. Over the years, he has played influential roles in policy advocacy, civil society engagement and governance reforms within the mining and petroleum sectors.
He has also contributed to the drafting of extractive sector policy proposals and manifestos for major political parties in Ghana, earning recognition for his expertise in resource governance, local participation and transparency in the management of mineral and petroleum revenues.
Dr. Manteaw’s latest intervention is expected to reignite national debate on how Ghana can balance resource nationalism with the need to remain competitive in attracting global mining and petroleum investments.
By Christian Kpesese
