Otumfuo warns of unrest if Ghana’s mining gains stay overseas, urges gold markets to invest in local industry

The Asantehene, Otumfuo Osei Tutu II, has issued a warning. He stated that Ghana and other African gold-producing countries face social unrest. This could happen if foreign gold markets continue to profit from raw mineral exports without supporting local value addition.

He spoke at the Global Mining Summit in Accra on June 2, 2025. The Asantehene highlighted the current practice of mining gold in Africa. This gold is then exported for processing in wealthier countries. This system leaves mining communities with little benefit from their efforts.

“It is impossible to deny that some sweat for crumbs,” he said. “Meanwhile, others enjoy the rich rewards.” He described this inequity as untenable and unsustainable.

Otumfuo urged major international gold markets to take action. He called on London, Dubai, Zurich, and Brussels to do more than buy raw materials. They should support building refineries and factories in Ghana and other African nations. This would allow producer countries to process their minerals locally.

He warned that the growing gap between resource extractors and profit recipients could have serious consequences. “We may be storing ingredients for social disaster,” he cautioned.

Ghana is Africa’s largest gold producer but ships most of its raw output abroad for refining. Otumfuo believes this pattern must change for African economies to grow beyond raw material exports.

He appealed to international financial institutions and investors for support. They should reassess their views on doing business in Africa. Investing in productive ventures can create jobs and build industrial capacity.

“The gold market can show the way,” he stated. An economically strengthened Africa can promote market stability, which benefits investors.

Otumfuo’s message calls for a shift in the global economic structure. He believes the mining industry can lead this change due to its history of partnerships across borders.

“The friendships within the World Gold Council encourage me,” he added. He hopes they can work together towards shared prosperity.