The Board of Directors of the ECOWAS Investment and Development Bank (BIDC) has approved a US$120 million financing facility for the benefit of Engineers & Planners Limited (E&P), a leading local mining and construction company in Ghana, for the acquisition of the Black Gold Mine Volta. This transaction marks an important step towards creating the first Ghanaian mining company that is fully indigenous and 100% locally owned, in line with global standards for local participation and sustainable resource development

According to a press release, this transaction marks an important step towards creating the first fully indigenous and 100% locally owned Ghanaian mining company, in line with global standards for local participation and sustainable development of resources.

This agreement, which began about 18 months ago, it is said, was formalized during a signing ceremony attended by senior government officials, regulatory authorities and key players in the sector. This facility underlines the commitment of the BIDC to promote sustainable economic development and regional integration in West Africa. The same source reports that gold mining is one of the pillars of the Ghanaian economy, contributing to 57% of total export earnings in 2024

This investment aims to build local capacity, promote added value creation, and align with international best practices in environmental management and community engagement.

Dr. George Agyekum Donkor, President of the BIDC and its Board of Directors, emphasized that the Bidc's support for the Black Volta gold project reflects the Bank's strategic orientation towards sectors critical to Africa's socio-economic transformation. “Through these transactions, we are promoting inclusive growth and ensuring that mineral wealth benefits local communities and economies,” said Mr.

Ibrahim Mahama, CEO of E&P, said: “This acquisition is an important step for the Ghanaian mining sector. E&P is committed to operating in accordance with global standards, to prioritizing environmental sustainability, and to creating long-term value for all stakeholders