The Minerals Development Fund is aiming to create over 10,000 sustainable jobs in Ghana’s mining communities following the signing of a major investment deal by the Minerals Development Fund (MDF) and China’s Isunte(Yixintai) Group.
According to the MDF this latest agreement, signed by Dr Hanna Louisa Bisiw-Kotei in her capacity as Administrator of the Minerals Development Fund and Chief Executive Officer of Hunan Isunte(Yixintai) Group during the Fourth China-Africa Economic and Trade Expo held in Changsha, Hunan Province of China “marks a significant step towards alternative livelihood empowerment for Ghanaians affected by mining activities”.
Working under a joint project dubbed “Health Ramie Agriculture-Industry-Technology-Commerce Integrated Industrial Chain Project in Ghana”, parties are expected to introduce a large-scale cultivation and processing of the Ramie plant, a hardy fibre crop known for its multiple industrial applications.
The initiative is equally targeted at enhancing the MDF’s core mandate to promote sustainable development in mining communities, not only to strengthen Ghana-China economic ties but also to offer a transformative alternative for communities dependent on mining, addressing both employment and environmental concerns.
The deal was signed in collaboration with Chinese partners as part of Ghana’s participation in the growing China-Africa cooperation platform, which seeks to expand trade, investment, and technology transfer between African nations and Chinese institutions.
Administrator of the MDF Dr Hanna Louisa Bisiw-Kotei in the last few days has started a nation wide campaign of a ‘polluter pay’ policy which she believes will mitigate the impact of illegal mining activities which has led to deforestation in most of Ghana’s forest reserves.
The 4th China-Africa Economic and Trade Expo (CAETE) opened Thursday in Changsha, capital of central China’s Hunan Province, drawing a record-breaking of over 30,000 participants from 53 African countries, 11 international organizations and 27 Chinese provincial-level regions, highlighting the dynamic two-way economic ties.
Under the theme “China and Africa: Together Toward Modernization,” the biennial event, running through June 15, aims to further harness the shared development potential as a concrete follow-up to the 10 partnership actions announced at the 2024 Beijing Summit of the Forum on China-Africa Cooperation.
From African flavors to tourism offerings, from digital payment solutions to agricultural machinery and clean energy technologies, the expo is expected to further advance the China-Africa partnership in their shared pursuit of modernization.