AngloGold launches community trust fund
AngloGold Ashanti (AGA), lduapriem mine, has launched a community trust fund to support long term sustainable development in the communities in which the company operates.
The fund will be managed by a seven member board, chaired by Professor Newton Amegbey together with a twenty three member steering committee.
Addressing traditional rulers, political leaders and stakeholders at the function held at Teberebie, a suburb of Tarkwa, Mr. Frederick Attakumah, Vice President in charge of sustainability of AGA, said the company was mandated, under the sustainability agreement with the Government of Ghana to establish this fund into which one percent of its annual post-tax profit would be deposited and used for community development initiatives.
According to him, AGA has since 2004 set aside this amount for lduapriem Fund and the Obuasi Community Trust Fund, which is yet to be launched.
He said at the end of 2011, a total amount of 3.2 million Ghana cedis has been accrued into the lduapriem Community Trust Fund, adding that, this amount is separate from the social investment made by AGA to the lduapriem community since 2004 when the sustainability agreement was signed.
Mr. Attakumah pointed out that the fund is not intended to replace government’s role of infrastructure development, but is rather aimed at partnering and complementing government’s current efforts, with the objective of delivering development that the nation desire.
Mr Attakumah said the board is required to hold annual general meetings to keep stakeholder update on its activities as well as receive any additional inputs they make.
In a speech read on behalf of the Western Regional Minister, Mr. Paul Evans Aidoo, he congratulated AGA for the immerse contribution they have made to the country.
He said government recognizes the significant roles mining industries play in supporting its catchment areas.
Mr. Aidoo said government will continue to work closely with mining companies to ensure that mining is seen as an opportunity for socio-economic development.
The Regional Minster emphasized that government will create an enabling environment for both local and foreign industries to operate.
The Omanhene of Wassa Fiase Traditional Area, Osagyefo Dr. Kwamena Enimil VI, Municipal Chief Executive of Tarkwa Nsueam, Mrs. Christina Kobinah and the Member of Parliament for the area, Mrs. Gifty Kusi, expressed gratitude to AGA for the kind gesture.
Osagyefo Enimil appealed to the Board of Directors of the Fund to let transparency prevail in all their dealings with the respective communities.
AngloGold Ashanti used the occasion to present four 15- seater Toyota mini buses to Tarkwa, Benso Technical, Fiaseman and Bogoso Saint Augustine’s Senior High Schools.
In addition Akyimpim, Huniso, Teberebie, Adieyie, Samahu and University of Mines Junior High Schools also received five sets of computers each with its accessories.
Source: GNA