Also known as: Dr Steve Manteaw · Dr. Steve Manteaw · Mr Manteaw · Dr Manteaw · Emmanuel Steve Asare Manteaw · Dr Emmanuel Steve Asare Manteaw · Dr. Emmanuel Steve Asare Manteaw
Policy analyst and GHEITI co-chair defending Ghana Gold Board's financial losses as necessary costs for market control and foreign exchange gains.
… Dr Emmanuel Steve Asare Manteaw, policy analyst and co-chair of the Ghana Extractive Industries Transparency Initiative (GHEITI), says evidence from successive GHEITI reports suggests that revenues meant to support local development are frequently diverted towards recurrent spend …
Policy analyst and Extractive Industries Transparency Initiative (EITI) expert Dr Steve Manteaw has thrown his support behind efforts to increase Ghanaian participation in the mining sector. …
Policy analyst and extractive governance expert Dr Steve Manteaw says the fierce public interest surrounding the renewal of Gold Fields’ Tarkwa mining lease reflects a growing belief among many Ghanaians that the country is not receiving enough value from its natural resources. …
Dr Emmanuel Steve Asare Manteaw, co-chair of GHEITI, has defended the Ghana Gold Board's financial losses as necessary costs in gaining control of the gold market, arguing that Ghana has recorded losses from gold purchase programmes in previous years (2022–2025) and that the focus should be on foreign exchange generated rather than losses alone. In 2024, Ghana recorded total losses of ¢5.7 billion from the Gold for Oil programme and domestic gold purchases for reserves, while gold export revenue that year was $4 billion.
Dr Emmanuel Steve Asare Manteaw, co-chair of GHEITI, has defended the Ghana Gold Board's financial losses as necessary costs in gaining control of the gold market, arguing that Ghana has recorded losses from gold purchase programmes in previous years (2022–2025) and that the focus should be on foreign exchange generated rather than losses alone. In 2024, Ghana recorded total losses of ¢5.7 billion from the Gold for Oil programme and domestic gold purchases for reserves, while gold export revenue that year was $4 billion.
According to Dr Emmanuel Steve Asare Manteaw, co-chair of the Ghana Extractive Industries Transparency Initiative, the Ghana Gold Board's financial losses stem from having to offer higher prices to miners in order to compete with foreign buyers—particularly Indians and Chinese—who had already established relationships with miners and provided them money, equipment, and resources in exchange for gold.
Ghana's Co-Chair of GHEITI Dr Emmanuel Steve Asare Manteaw argues that the Ghana Gold Board's $1.7 billion loss is warranted by the foreign exchange gains and economic stabilisation it generates, noting that previous governments similarly incurred losses through gold purchase programmes across 2022–2025.
Policy analyst Dr Emmanuel Steve Asare Manteaw argues that Ghana's Gold Board losses are not unprecedented, citing losses in 2022, 2023, 2024, and 2025. He notes that in 2024 Ghana recorded a combined loss of ¢5.7 billion from Gold for Oil and domestic gold purchases for reserves, and argues these should be viewed as transaction costs for securing foreign exchange rather than unexplained losses.
Ghana's Extractive Sector Multi-Stakeholder Group has called on Parliament to summon State agencies over delays in disbursing mineral royalties to mining host communities, saying the delays are stalling development projects and disrupting local planning. The Group attributed the persistent delays to weak oversight and called for Parliament to ensure compliance with the Minerals Development Fund Act, 2016, and make information on delayed payments public.
Ghana's Extractive Sector Multi-Stakeholder Group has urged Parliament to summon State agencies over delays in disbursing mineral royalties to mining host communities, saying the delays are stalling development projects and undermining the Minerals Development Fund Act. The group called for Parliament to hold state institutions accountable and make public information on delayed payments to strengthen transparency.
Governance experts, citing Ghana Extractive Industries Transparency Initiative reports, say district assemblies are diverting mineral royalty revenues towards recurrent spending rather than long-term investment projects, limiting sustainable development in mining communities.
Ghana's large-scale mining sector contributed more than GH¢22.22 billion to the economy in 2025 despite global challenges including geopolitical tensions and supply chain disruptions. The sector supported 13,819 direct jobs, spent about US$4.2 billion on local procurement, and invested US$88.6 million in community development initiatives.
Policy analyst Dr Steve Manteaw supports efforts to increase Ghanaian participation in mining, arguing that countries that derive the greatest value from natural resources actively participate in extraction. He points to public concern that Ghana is not receiving enough benefits from its mineral wealth, a sentiment reflected in debate over Gold Fields' Tarkwa mining lease renewal.
Dr Steve Manteaw attributes fierce public interest in Gold Fields' Tarkwa mining lease renewal to a widespread perception that Ghana is not receiving enough value from its mineral resources and wants greater benefits retained domestically. He notes that public frustration has been fuelled by claims that Ghana retains only a small fraction of value from mining, though he describes such figures as inaccurate.
Policy analyst Steve Manteaw cautioned against using public sentiment as the sole basis for handing mines to Ghanaians, noting that while widespread perception suggests Ghana retains only about five per cent of mining sector value, such figures are inaccurate and policy should be guided by sound analysis rather than emotion.
The government will submit the Damang Gold Mine lease agreement to parliament for ratification following its takeover by Engineers and Planners after Gold Fields' lease expired. The Lands and Natural Resources Minister said suspending operations pending ratification was not viable given the thousands of jobs and economic activities linked to the mine.
Dr Steve Manteaw has dismissed calls from Parliament's Minority for Energy Minister John Abdulai Jinapor's resignation following a fire at the Akosombo Power Control Centre, calling them baseless and defending the minister's handling of the subsequent power challenges. The Minority has demanded accountability and broader scrutiny, arguing that responsibility should extend beyond technical officials to include the minister and president.