Engineers & Planners, EBID Ink $100M Deal for Black Volta Gold Project

Engineers & Planners (E&P) has entered into a $100 million Acquisition Facility Agreement with the ECOWAS Bank for Investment and Development (EBID) to acquire the Black Volta Gold Project. The signing ceremony, held in Accra, represents a major breakthrough in the quest for indigenous ownership in Ghana’s mining industry.

The agreement paves the way for Ghana’s first large-scale, fully Ghanaian-owned gold mining venture—placing E&P at the center of a significant shift in the country’s extractive sector landscape.

Prominent businessman Sir Sam Jonah, who spoke at the event on Monday, July 7, dispelled notions that the acquisition was politically motivated. He described the deal as a commercially sound investment, driven purely by business fundamentals.

“This is not political patronage, nor cronyism,” Jonah said, emphasizing that the agreement is based on merit and financial strength. He hailed the development as a landmark moment in Ghana’s mining history and a strong statement about what local companies can achieve when given the right platform.

He further explained that the deal, originally signed in October 2023, was concluded quietly and without political interference—highlighting its transparency and integrity.

Jonah characterized the partnership as a “milestone” and a “turning point” that signals a future where Ghanaian enterprises take the lead in strategic sectors of the economy, especially mining.

“We are not just here for a signing ceremony. We are here to celebrate the rise of a new era—one where Ghanaians take charge of their natural resources and economic destiny,” he said.