Ibrahim Mahama Secures $100m Facility for Gold Mining Project
- Ibrahim Mahama has secured a $100 million facility from EBID to acquire the Black Volta Gold Mining Project
- The deal marks Ghana’s first large-scale, indigenous-owned gold mining venture and was praised by Sir Sam Jonah
- The project is expected to create jobs, stimulate economic activity, and boost local participation in the mining sector
Founder and Chief Executive Officer 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 deal was officially signed during a ceremony witnessed by prominent businessman and statesman Sir Sam Jonah.
Source: UGC
Speaking at the event in Accra on Monday, July 7, 2025, Sir Sam Jonah, who is the Executive Chairman of Jonah Capital, said this would be the first large-scale, indigenous-owned gold mining project in the country.
He described Ibrahim Mahama’s move to acquire the Black Volta Gold Mining Project as “a long overdue breakthrough and a powerful symbol of what is possible when vision meets courage and ambition meets execution”.
Sir Jonah said the development came at a very opportune time, noting that President John Mahama’s government was pursuing an aggressive policy agenda aimed at promoting greater Ghanaian participation in the mining industry.
Source: UGC
He added that the initiative by E&P gave strong credence to the government’s commitment not just in words, but in action, and described it as a practical expression of a policy vision anchored in resource nationalism and indigenous entrepreneurship.
Sir Jonah emphasised that it was not a favour or political patronage, nor crony capitalism or a matter of friends and family.
He explained that the deal being witnessed had actually been initiated as far back as October 2023, without fanfare, interference, or backroom dealings.
He further stressed that it was, in every sense, a commercial transaction built on merit, backed by a strong balance sheet, and grounded in solid business fundamentals.
“This is happening at a very opportune time. President John Mahama’s government is pursuing an aggressive policy agenda aimed at promoting greater Ghanaian participation in the industry. The initiative by E&P gives strong credence to the government’s commitment, not just in words, but in deed. Indeed, it’s a practical expression of policy vision that seeks to anchor resource nationalism and indigenous entrepreneurship,” he said.
“Ladies and gentlemen, let us be clear — and I repeat — let us be clear, this is not a favour. There is no political patronage here, this is not crony capitalism, this is not about friends and family. The deal we are witnessing today was actually initiated as far back as October 2023, with no fanfare, no interference, no backroom dealings. It’s, in every sense of the word, a commercial transaction built on merit, backed by a strong balance sheet and grounded in solid business fundamentals,” he stated.
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Ibrahim’s move expected to boost mining sector
Ibrahim Mahama’s investment is expected to boost Ghana’s mining sector and contribute to the country’s economic growth.
The Black Volta Gold Mining Project will create jobs and stimulate economic activity in the region.
The partnership between Engineers and Planners and EBID highlights the bank’s commitment to supporting private sector development and promoting economic integration in West Africa.
The $100 million facility will enable the company to elevate the gold mining project to the next level.
Ibrahim donates to UG School of Law
Meanwhile, YEN.com.gh reported that Ibrahim Mahama supported the University of Ghana School of Law in its construction project.
The renowned businessman donated a truckload of cement for the school's new building complex.
His donation to the University of Ghana School of Law triggered massive reactions from Ghanaians on social media.
Source: YEN.com.gh
