The Chief Executive Officer of AsanSka Investments Ltd., producers and exporters of gold and diamond jewellery, Mr. Kwabena Asante-Asare says Ghana can compete effectively on the international jewellery market to rake in more foreign exchange to augment government's noble quest for a better Ghana.

He noted that there is a growing desire for African history and culture by especially people of African descent in the Diaspora, and this has resulted in the emergence of a special taste and demand for African products.

Mr. Asante-Asare said the jewellery industry should therefore be positioned to enable Ghana's raw gold and jewellery exports take a fair share of that emerging international business.

“Our resolve should be to make first class quality the hallmark of Ghana gold jewellery. This strategy will ensure that our export products stand out amongst the best in the world.”

Mr. Kwabena Asante-Asare was contributing to discussions at the second annual Gold Statement exhibition in Accra under the theme, "Branding Ghana in Gold through Jewellery Production for Tourism and Export: the Way Forward."

The three-day exhibition which sought to build a common voice for jewellery producers and exporters, is a specialized fair of indigenous Ghanaian gold jewelry orgainsed by Rapport Services, under the auspices of the Ministries of Trade and Industry, PSD & PSI and Tourism and Diasporan Relations. The Association of Indigenous Miners and the Federation of Ghanaian Jewellers are collaborators.

According to Asante-Asare, while the prospects for arresting the declining fortunes of the industry look very rewarding, the challenge is also very daunting and work must start now if the nation must make any headway.

He suggested a number of goals to drive the quest for a better industry. These include;

1. Expansion of the jewellery industry by creating a Gold Market village; one central point for jewellery shopping for both Ghanaians and would-be tourists.
   
   
2. Establishment of an in-house gold refinery at the Gold Market village to refine gold for sale to local jewelers. This he explained, will ensure a reliable and regular supply of raw and clean gold for production and suggested the use of refined gold of 999.9 or 24kts to alloy to 18kts, 10kts 9kts etc instead of Ghana’s standard 18kts finished products.
   
   
3. The introduction and encouraged use of advanced technology in the jewellery production process.
   
   
4. Ghana's jewellery industry must be export-oriented. He said about 40% of the world's population is estimated to constitute potential buyers of gold and diamonds. “Ghana's gold will continue to attract the attention of potential buyers on the international market in view of the unique quality of Ghana gold. We must not allow all our raw gold to leave the country without considering the commodity's value addition in terms of jewellery production right here in the country.”
   
   
5. A conscious adherence to international standards and specifications would ensure a level playing field for Ghana-made jewellery on the international markets.
   
   
6. Strict monitoring of production and quality control measures would also ensure that only the finest quality products leave these shores and will help further enhance Ghana's reputation internationally in this field.

Worthy investment

	Mr. Kwabena Asante-Asare, C.E.O. of AsanSka Investments Ltd

Mr. Asante-Asare stressed that Ghana does not produce even 1% of the total global raw gold exports, and while the government of Ghana has 10% shares in all mining companies operating in the country, it can assist the local jewellery industry by establishing an in-house gold refinery to refine gold from its raw form to 24kts or 999.9 using only 3% of its 10% shares in the gold mining companies.

“In the long run, I believe this would be a worthwhile investment in the country's future economic prosperity,” he said.

Participants at the exhibition have complained that the wholesale export of gold by the big mining companies has been inimical to the industry and called for policies to check the practice and to ensure that there is value addition.

Paapa Owusu Ankomah, Minister of Trade, PSD and PSI, who opened the exhibition, assured that government was in tune with the concerns of the industry and was putting measures in place to address them.

He also enumerated several interventions and opportunities by government and urged the participants and industry players to avail themselves of the opportunities.

About 20 businesses in the industry and banks participated in the fair that closed on Sunday.



Story by Isaac Yeboah