Engineers & Planners Company Ltd (E&P), a prominent Ghanaian mining and civil engineering firm, has achieved a significant milestone by acquiring full ownership of Azumah Resources Ghana Ltd and Upwest Resources Ltd. This acquisition grants E&P control over the Black Volta and Sankofa gold concessions, marking the first time in decades that these projects will be under Ghanaian management. The successful share transfer agreement with the previous Ghanaian Beneficial Owner, approved by the Minerals Commission and registered with the Registrar of Companies, paves the way for the revitalization of these long-stalled projects. This transition represents a significant shift in the landscape of Ghana’s mining industry, placing local expertise and leadership at the forefront of these key developments.
E&P, established in 1997, has solidified its position as a leading force in Africa’s mining and civil engineering sector. The company’s commitment to these projects extends beyond mere acquisition; they have secured the necessary financing to initiate development and have formulated a comprehensive plan to ensure responsible and transparent operations. This plan includes collaborating with the Ghana Revenue Authority to audit and validate past project investment loans, ensuring the repayment of verified loans while adhering to tax regulations, thereby safeguarding state revenue. This meticulous approach not only demonstrates financial prudence but also underscores E&P’s dedication to upholding the highest ethical standards.
The acquisition holds significant implications for Ghana’s economic development. E&P’s commitment to developing the Black Volta and Sankofa projects promises to inject much-needed vitality into the local economy. The company aims to create employment opportunities, stimulate economic activity in surrounding communities, and contribute significantly to state revenue through royalties and taxes. This comprehensive approach to development highlights E&P’s understanding of the interconnectedness between economic growth and community well-being. Furthermore, E&P has pledged to invest in new infrastructure and social programs in the Upper West Region, further amplifying the positive impact of these projects on the lives of local residents.
Ibrahim Mahama, CEO of E&P, has emphasized the company’s unwavering commitment to ensuring that these long-dormant projects finally deliver tangible benefits to Ghana and its people. This commitment entails transparent collaboration with regulatory bodies and stakeholders to establish mining operations that foster shared prosperity. The acquisition represents not only a business venture but also a patriotic endeavor, reflecting E&P’s dedication to advancing national development. By taking ownership of these projects, E&P is not merely extracting resources; it is investing in the future of Ghana, demonstrating a deep understanding of its role in contributing to the nation’s economic and social progress.
The successful transfer of ownership concludes years of negotiations and legal processes that had hindered the development of the Black Volta and Sankofa concessions. The former owners, Azumah Resources Ghana Ltd and Upwest Resources Ltd, have confirmed the completion of the transaction, acknowledging its significance in paving the way for a new era of project development under a Ghanaian operator with proven technical and financial capabilities. This transition marks a decisive step towards realizing the long-term potential of these assets and signifies a renewed sense of optimism for the future of these projects. The concessions, granted in 2014, remained idle due to challenges in securing the necessary capital. E&P’s acquisition and subsequent investment inject the vital resources needed to jumpstart development and unlock the economic potential of these valuable assets.
Industry analysts view E&P’s takeover as a potential paradigm shift in Ghana’s mining sector, showcasing a new model of homegrown leadership. This move demonstrates the capacity of Ghanaian companies to manage and execute large-scale projects that adhere to international standards while maximizing national benefits. The successful development of the Black Volta and Sankofa projects under E&P’s leadership could serve as a catalyst for further investment in the Ghanaian mining sector, inspiring confidence in local expertise and paving the way for greater participation of Ghanaian companies in the development of the nation’s natural resources. This successful transition embodies the spirit of self-reliance and demonstrates the potential for sustainable and impactful development driven by local expertise and investment.
