Sam Jonah: Ghana Now Has Zero Equity Interest In AngloGold Ashanti After Its Sale

• A renowned business mogul, Sam Jonah, has revealed Ghana's percentage share in AngloGold Ashanti
• Sir Jonah, in an interview, says the country currently has zero equity interest in the company after it was sold
• He described the turnout of events as shameful and lamented the low level of Ghanaian ownership of major companies and businesses

In a startling revelation, a former Executive President of AngloGold Ashanti Limited, Sir Sam Esson Jonah, has disclosed that Ghana's government has no share in the company.

Giving a breakdown of how the country lost all its shares in AngloGold Ashanti, the renowned business executive said the first sale of the company's shares occurred in 1994 when Ghana sold 30% of its shares.

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He explained further that the remainder of its 55% share was sold after the company was listed on the New York Stock Exchange.

Speaking on GTV's BBUM show on Sunday, September 25, 2022, Sir Sam Jonah described the turnout of events as shameful. He lamented the low level of Ghanaian ownership of major companies and businesses in the country.

"…..Currently, as we speak, it (government) has zero equity interest in AngloGold Ashanti. The Ghana government had 10 percent in the mines, like Obuasi etc, but as the company that merged, the Ghana government has zero percent of AngloGold Ashanti, which is a shame because we sold," he said.

He added that it is unfortunate that no Ghanaian holds any share in any of the country's mines, pointing out that in South Africa, all the mines are owned by South Africans, meaning that profit was not sent outside.

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This, according to him, explains why Johannesburg is known as a city with active gold mines.

In 2004, AngloGold and the Ashanti Goldfields Corporation merged to establish AngloGold Ashanti Limited, a multinational gold mining corporation.

Since then, the business has grown its reach and is now a major producer of gold, with 21 facilities spread over four continents.

COVID-19: AngloGold Ashanti Increases Cash Flow But Loses 11,000 Ounces Of Production

Earlier, YEN.com.gh reported that AngloGold Ashanti has recorded an increase in cash flow for the first quarter of the year 2020.

In the same period, the company recorded a fall in production due to COVID-19-related stoppages in its operations.

Source: YEN.com.gh