Ghana must move from economic participation to asset ownership – Sir Sam Jonah

Renowned Ghanaian business leader Sir Sam Jonah has underscored the need to deepen economic empowerment by moving beyond participation in economic activity to meaningful ownership of strategic national assets.

He noted that historically, a significant share of Ghana’s resource wealth has been externally controlled, limiting the extent to which ordinary citizens benefit directly from the country’s natural endowments.

However, he pointed to signs of a gradual shift, citing transactions such as the acquisition of Azumah Resources by indigenous firms, including Engineers & Planners, as evidence of growing local ownership.

Sir Sam Jonah made the remarks at the official listing ceremony of Zen Petroleum Holdings PLC on the Ghana Stock Exchange on Wednesday, April 22, 2026.

“When ZEN opens its shares to the public, it is not merely conducting a financial transaction, indeed it is extending an invitation. It is saying to every Ghanaian, this company is yours to own a piece of. That is empowerment in the most practical and meaningful sense of the word.

“I must say, the developments of recent months have been most encouraging. The acquisition of Azumah Resources by Engineers and Planners is a milestone I have watched with deep satisfaction. The acquisition of the Damang mine, likewise.

“These are not small events; these are Ghanaians taking ownership of Ghanaian resources. These are signals that we are slowly but surely moving in the right direction. ZEN’s decision to go public fits perfectly within this larger story.

“Indeed, it is perhaps a quiet but consequential revolution, a growing conviction among Ghanaian entrepreneurs that they don’t have to remain perpetually small, perpetually private, perpetually dependent on foreign capital and foreign validation. I’m excited by what I see.”