After being publicly disavowed by Azumah Resources in a recent press statement, IMANI Africa Vice President Bright Simons says the disclaimer has only reinforced his independence—and he is now intensifying scrutiny on the ECOWAS Bank for Investment and Development (EBID) over its reported involvement in the $100 million Black Volta Gold Project acquisition saga.
While Azumah Resources Ghana Limited, embroiled in a legal dispute with Engineers & Planners (E&P), moved swiftly on July 13 to distance itself from Simons’ commentary—stating he has no official affiliation or mandate to speak for the company—Simons has embraced the move as validation of his analytical neutrality in the public interest.
But rather than back away, Simons has now redirected his focus toward EBID, raising questions about the regional bank’s due diligence and transparency in relation to the disputed deal.
The core of the issue lies in EBID’s reported indicative interest in financing or facilitating the high-value mining acquisition. While Azumah Resources clarified in its statement that the bank’s involvement remains preliminary and non-binding, Simons argues that even an indicative commitment from a regional development bank warrants public accountability, especially given the project’s scale, legal uncertainties, and political sensitivity.
“The public deserves clear and transparent answers when public-interest institutions appear linked to controversial, high-value acquisitions—especially in extractives,” Simons stated in a series of social media posts.
The Black Volta Gold Project, located in Ghana’s Upper West Region, has become the center of a complex legal and commercial dispute between Azumah and E&P. The deal has triggered significant interest among civil society, analysts, and investors due to its value and the reputational risk surrounding its execution.
Simons’ renewed demands come as watchdogs and transparency advocates increasingly push for greater oversight in the natural resources sector, warning that opaque deals involving politically connected firms can distort markets and damage public trust.
While Azumah Resources seeks to resolve its dispute with E&P through confidential negotiations, Simons’ public queries underscore a growing movement that sees greater transparency in resource governance as essential to sustainable development.
As pressure mounts, attention now turns to EBID and whether the bank will issue its own statement or clarification regarding its role—or potential withdrawal—from the high-profile transaction.
