Respected Ghanaian business mogul Sir Sam Jonah has strongly refuted claims that Engineers & Planners’ (E&P) acquisition of the Black Volta Gold Project was influenced by political connections.
Speaking at a ceremony celebrating the $100 million financing deal between E&P and the ECOWAS Bank for Investment and Development (EBID), Jonah stressed that the agreement was based on solid business merit and sound commercial judgment. He described the transaction as a key step in Ghana’s journey toward strengthening indigenous participation in the mining sector.
“This is not political favour. This is not cronyism. This is not about patronage,” Jonah declared, insisting the deal is a legitimate business initiative backed by a strong financial foundation and clear economic potential.
He hailed the agreement as a historic milestone, noting that it marks the creation of Ghana’s first large-scale, fully Ghanaian-owned gold mine—a project he said reflects the power of local vision and determination.
“We are here to witness more than just a signing. We are celebrating a bold step forward in Ghana’s economic journey, driven not by external interests, but by our own,” he stated.
Jonah revealed that the agreement was quietly finalized in October 2023, without political interference or hidden agendas, emphasizing that the success of the project stems from genuine business strength.
Paying tribute to E&P’s founder, Ibrahim Mahama, Jonah recalled advising him as far back as 1998, when Mahama first considered entering the mining sector. He praised Mahama’s long-term commitment, strategic thinking, and ability to build a respected company in a competitive industry.
“You are living the dream I’ve nurtured for decades—a dream many thought was too ambitious,” Jonah remarked.
He also used the platform to advocate for policy reforms that promote local ownership of Ghana’s mineral wealth. Citing South Africa’s Black Economic Empowerment (BEE) initiative as a model, he urged Ghana to create similar pathways that ensure access to capital, opportunities, and support for local businesses.
“Ownership and equity are essential. National pride demands that we put our people at the center of our mineral development,” he said.
Jonah ended with a call to action, urging stakeholders to see the Black Volta Gold Project not as an isolated event but as the beginning of a broader transformation.
“Let this be the start of a new chapter—from resource extraction for others to true empowerment for ourselves.”
