Ghana is losing over 54 billion dollars annually due to the wrongful use of natural environmental resources.
This is according to the Chairman of the Biometric Offset Business Scheme (BOBS) Dr. Yaw Osei-Owusu.
In his view, unregulated activities such as illegal mining, water pollution, deforestation among others, are causing the country huge economic loses annually.
The caution also follows earlier warning by organizations such as the Oxford Business Group that Ghana risks losing a substantial part of its agricultural land to illegal mining activities.
In an interview with Citi Business News at the sidelines of the validation meeting on Biodiversity Offset Business Scheme (BOBS), the chairman of the Biometric Offset Business Scheme Dr Osei-Owusu suggested a comprehensive research and a pragmatic solution to the menace will save the environment and economy.
‘’With the illegal mining activities and the way we are developing our economies, we are likely to have increased the rate of devastation of our natural resources; our water bodies have not been spared either’’, Dr Osei Owusu said.
He further stated that “I think we need to do a comprehensive study to understand why people are doing that and who is giving them the land, what is the cost of that land or what is the cost of alternative use of that land. If we don’t understand the issues very well, we will still be talking about it and nobody will have any effect method of stopping galamsey.”
The Biometric Offset Business Scheme
The Biometric Offset Business Scheme is an agency dedicated to improving, conserving and promoting the country’s environment.
The body enhances engagements which are meant to open up Ghana’s nature based economic sector and attract more private sector investments in the sustainable utilization, management and protection of the country’s natural capital assets.
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By: Jessica Ayorkor Aryee and Anita Arthur/citibusinessnews.com/Ghana