Business mogul Sir Samuel Esson Jonah
Business mogul Sir Samuel Esson Jonah has described the $100 million financing deal between Engineers & Planners (E&P) and the ECOWAS Bank for Investment and Development (EBID) as a “historic milestone” in Ghana’s mining industry.
Speaking at the facility signing ceremony in Accra on July 7, 2025, Sir Jonah, who chaired the event, said the transaction is a practical breakthrough in Ghana’s long quest for indigenous ownership in the mining sector.
“Today, we are not merely here to witness the signing of a facility agreement. 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,” he said.
The Black Volta Gold Project, which E&P is acquiring with the facility, will become Ghana’s first large-scale, wholly Ghanaian-owned gold mining venture. It is expected to produce an average of 163,000 ounces of gold per year in its first five years, roughly 3% of Ghana’s annual gold output.
Sir Sam Jonah, who has been a longstanding advocate for local participation in mining, noted that this achievement vindicates his decades-long call for Ghanaians to move from the periphery to the centre of the mining value chain.
“We cannot continue to be mere labour providers or royalty collectors while others control the equity, the strategy, and ultimately, the wealth,” he stressed.
He praised E&P’s founder, Ibrahim Mahama, for his persistence and vision, recalling their first meeting in 1998 when Mahama sought his advice about entering the mining business.
“That young man listened. He built a company. He earned the respect of the industry. And now, he stands poised to fulfil a vision that many considered impossible. Congratulations, Ibra, you have made us all proud,” Sir Jonah said.
He also used the occasion to call on the government to introduce policy reforms and incentives to make it easier for Ghanaians to own and lead mining enterprises.
“Ownership matters. Equity matters. And national pride demands that we do more to ensure that our people are at the heart of our mineral wealth,” he added.
Referencing South Africa’s Black Economic Empowerment (BEE) programme and the rise of billionaire Patrice Motsepe, Jonah argued that Ghana must similarly create opportunities to grow its own industrial champions.
“If we remove the barriers, I have no doubt that many more ‘Motsepes’ will emerge from Ghana,” he said.
Jonah applauded EBID for backing the project, describing the bank’s decision as a bold endorsement of indigenous entrepreneurship.
“You have not only provided financing, you have de-risked hope,” he remarked.
He urged E&P to set high standards in governance, environmental stewardship, and community engagement, saying the project must prove that Ghanaian companies can compete with the best in the world, with integrity.
“Let this day be remembered as the day we turned the corner, from resource extraction for others to resource empowerment for ourselves. Let us rise as a people. Let us mine our gold and own our future,” he concluded.
Ghanaian businessman, Sir Sam Jonah has revealed that African mining giant, Engineers and Planners has successfully acquired a $100 Million funding from the ECOWAS Bank For Investment and Development towards the acquisition of the Black Volta Gold Project.
The ground breaking… pic.twitter.com/GWWUdK1xTx
— SIKAOFFICIAL🦍 (@SIKAOFFICIAL1) July 7, 2025
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