President John Dramani Mahama has called on Ghanaians to assert full ownership and control over the country’s vast gold mining industry, underscoring a shift towards reclaiming national sovereignty over natural resources.
His remarks came just hours after his brother, Ibrahim Mahama, secured ownership of the Black Volta Gold Project through his company, Engineers & Planners (E&P), backed by $100 million financing from the ECOWAS Bank for Investment and Development (EBID).
Addressing the inauguration of the Ghana Gold Board task force, President Mahama reflected on Ghana’s longstanding struggle to convert its mineral wealth into widespread national prosperity.
He described past mining practices—dominated by foreign companies equipped with capital and technology—as part of the “Guggisberg system,” which yielded limited benefits for Ghana’s economy.
Highlighting recent developments, Mahama insisted that Ghana’s natural resources should serve as engines of growth for its people.
“The time has come for Ghanaians to own gold mines—to produce gold for export and ensure that the wealth generated benefits the nation directly,” he asserted.
Drawing inspiration from Botswana’s model of resource governance, where diamond exports are state-controlled to maximize national benefit, Mahama committed to a future where Ghana’s gold revenues are transparently managed and reinvested for sustainable development.
He announced government plans to partner closely with capable Ghanaian firms that have the expertise, equipment, and capital to lead the country’s mining sector into a new era.
The President emphasized collaboration and support to foster world-class mining operations that contribute to lasting economic growth.
This call to action coincides with a growing movement within Ghana to overhaul mineral resource management, reduce illicit trading, and boost formal sector participation—a cause embodied by the new Ghana Gold Board and its dedicated task force.
As Ibrahim Mahama’s acquisition signals a new wave of Ghanaian entrepreneurship in mining, President Mahama’s vision aims to ensure that such milestones translate into tangible benefits for all Ghanaians.
