Don’t Always Sell Your Land for Projects, Consider Equity Stakes- Asantehene to Nananom
The Occupant of the Golden Stool, Otumfuo Osei Tutu II, has counselled Nananom Amanhene to consider equity stakes over cash in land sale for large-scale projects.
According to Otumfuo, equity stake is a viable long-term investment option.
With this, Otumfuo explained that traditional authorities will acquire ownership stakes in proceeds from the said project.
“Equity is also another prudent means to benefit from lands. You don’t always have to take money. If the land is for a factory, you offer it in exchange for an equity stake so you become a shareholder in the company and receive dividends forever.”
His Majesty said the stake becomes part of the stool property, benefitting successors.
“The share becomes a stool property. In your absence, your successor will benefit. Let’s think deeper before doing anything. We are there for our people.”
Meanwhile, the Asantehene discouraged the sale of large tracts of land for projects.
His Majesty stated that the capacity of an investor must first be proven before allotting such lands to avoid making the land dormant.
“Most chiefs sell large tracts of land to people for projects but after the developers delay in executing the project, they {the chiefs} begin selling parts of these lands. Why do you sell large tracts in the first place?
“When someone comes for a 100-acre land, first inquire if he/she has the capacity. Give him/ her according to their strength so that when they need an extension later, they come again.”
Otumfuo recognises that the sale of large-scale land often affects many people whose livelihoods depend on it.
“Don’t give large tracts because it most often affects those who depend on the land for sustenance. Indeed, you are a chief; in such instances, you have to engage those whose livelihoods depend on it and compensate them before evicting them.”
Story by Hajara Fuseini
Click to read more: https://opemsuo.com/author/hajara-fuseini/
