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Founder and CEO of Engineers and Planners (E&P), Ibrahim Mahama, has secured a $100 million facility from the ECOWAS Bank for Investment and Development (EBID) to acquire the Black Volta Gold Mining Project.
The official signing ceremony, held in Accra on Monday, July 7, 2025, was attended by renowned businessman and statesman Sir Sam Jonah, who hailed the project as a landmark achievement for Ghana’s mining industry.
Describing the deal as a “long overdue breakthrough,” Sir Sam Jonah, Executive Chairman of Jonah Capital, said the move demonstrated what was possible “when vision meets courage and ambition meets execution.”
He emphasised that the acquisition is not a product of political patronage or cronyism but a purely merit-based commercial transaction initiated in October 2023. “There was no fanfare, no interference, and no backroom dealings. This is a transaction backed by a strong balance sheet and solid business fundamentals,” he stated.
The project aligns with the Mahama administration’s renewed focus on promoting greater Ghanaian participation in the natural resources sector. According to Sir Sam, it gives practical expression to the government’s commitment to resource nationalism and indigenous entrepreneurship.
“The initiative by E&P gives strong credence to the government’s commitment, not just in words, but in deed,” he added.
The Black Volta Gold Mining Project is expected to create employment opportunities, boost local economic activity, and serve as a catalyst for expanded private sector participation in Ghana’s mining sector.
