The Asantehene, Otumfuo Osei Tutu II, has expressed his support for Ghanaian businessman Ibrahim Mahama’s $100 million acquisition of the Black Volta Gold Project.
The revered monarch believes that capable local investors like Mahama should be prioritized in the allocation of large-scale mining concessions instead of foreign companies.
Otumfuo II emphasized the need for Ghanaians to own and control the country’s mineral wealth, stating, “Let Ghanaians own the gold.”
He urged regulatory authorities and stakeholders to support ventures led by local entrepreneurs, highlighting the importance of building local capacity and ensuring that the country’s wealth benefits its citizens.
The Asantehene’s comments follow the announcement that Ibrahim Mahama’s company, Engineers & Planners (E&P), has secured a $100 million facility from the ECOWAS Bank for Investment and Development (EBID) to acquire the Black Volta Gold Project located in the Upper West Region.
The project is expected to significantly boost Ghana’s local mining sector and Mahama’s company profile.
Industry analysts have praised the move as a game-changer in the country’s mining industry, which has for decades seen dominance by multinational corporations.
Story Written By DjQwequ | Kobby Kyei News
