Story By: Akua Oteng Amponsah
Renowned Ghanaian business magnate Sir Sam Jonah has rejected claims of political favouritism surrounding Engineers & Planners’ (E&P) acquisition of the Black Volta Gold Project.
According to Sir Jonah, the deal is a purely merit-based and commercially viable transaction.
“Let us be clear: this is not a favour. This is not political patronage. This is not crony capitalism,” Sir Jonah declared at a ceremony celebrating the landmark financing agreement between E&P and the ECOWAS Bank for Investment and Development (EBID).
The deal, valued at $100 million, marks a significant milestone in Ghana’s mining sector, with the Black Volta Gold Project being the first large-scale, wholly Ghanaian-owned gold mine.
Sir Jonah described the moment as “historic” and a “turning point” in Ghana’s decades-long relationship with its 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 proclaimed.
He praised E&P founder Ibrahim Mahama for his foresight, persistence, and entrepreneurial spirit, saying, “You are living out my dream. A dream I’ve held for decades. A dream that many believed was too ambitious.”
Sir Jonah also advocated for policy reforms to favor local ownership and drive national economic transformation.
“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 declared.
He urged Ghana to create enabling conditions for local entrepreneurs to thrive, drawing a comparison with South Africa’s Black Economic Empowerment framework.
“Our entrepreneurs are not lacking in talent. What they often lack is access: access to capital, access to opportunity, and access to policy support,” he elaborated.
Sir Jonah concluded with a rallying call, urging all stakeholders to view the Black Volta Gold Project as a foundational blueprint for national resource empowerment.
“Let this be the dawn of a new era… from resource extraction for others to resource empowerment for ourselves,” he urged.
