Engineers & Planners Secure $100m To Develop Ghana’s First Indigenous Gold Mine

Engineers & Planners (E&P) and the ECOWAS Bank for Investment and Development (EBID) have signed a $100 million acquisition facility agreement to support the purchase and development of the Black Volta Gold Project in Ghana’s Upper West Region. The deal, signed in Accra, marks a major step toward the establishment of the country’s first large-scale, wholly Ghanaian-owned gold mining operation an initiative hailed as a milestone in local participation in the extractive sector.

Speaking at the ceremony, renowned Ghanaian industrialist Sir Sam Jonah rejected suggestions that the transaction was influenced by political patronage, describing it instead as a merit-based and commercially sound investment. Let us be clear: this is not a favour. This is not political patronage. This is not crony capitalism, he said. This is a bold, legitimate business decision grounded in strong fundamentals. Sir Sam described the occasion as a turning point in Ghana’s long history with gold mining, highlighting the significance of local ownership in an industry historically dominated by foreign entities.

Today, we are not merely here to witness the signing of a facility agreement,” he told attendees. We are here to celebrate a milestone, affirm a vision, and embrace a bold new chapter in Ghana’s economic story led not by foreign interests, but by our own. The transaction, he noted, was initially concluded in October 2023 with no fanfare, no interference, and no backroom dealing a point he used to underscore the transparency and credibility of the process. The Black Volta Gold Project is expected to generate substantial local employment, support community development, and contribute significantly to Ghana’s export earnings. The move also positions E&P as a key player in driving indigenous growth within the country’s mining sector.