BY Grace Zigah
Ibrahim Mahama, brother of President John Dramani Mahama, has once again emerged as a key player in Ghana’s mining sector after his company, Engineers & Planners (E&P), completed the acquisition of the long-dormant Black Volta and Sankofa gold concessions in the Upper West Region.
The takeover, which was finalized through the purchase of Azumah Resources Ghana Ltd and Upwest Resources Ghana Ltd, has been officially registered with the Registrar of Companies and approved by the Minerals Commission.
The development signals the end of more than three decades of under-utilization, legal disputes, and financing challenges that left the concessions idle.
Strategic Timing
E&P’s acquisition comes at a pivotal moment.
With global gold prices soaring above $3,000 per ounce, Ghana is under pressure to boost mining revenues as part of its International Monetary Fund (IMF)-backed fiscal consolidation programme. E&P has announced that it has secured fresh funding to begin immediate mine development and pledged to clear verified debts tied to the concessions.
As part of its financial plan, the company will work closely with the Ghana Revenue Authority (GRA) to audit and validate old project loans. Only debts deemed legitimate and compliant with tax laws will be honoured, ensuring state revenue is protected in the process.
National Responsibility
Chief Executive Officer Ibrahim Mahama has framed the acquisition not just as a business move but as a patriotic duty.
He emphasized that the projects will create jobs, stimulate local economies, and increase royalties and taxes for the state.
“This is a proud moment for E&P and for Ghana. Our commitment is to ensure that these projects, which have been dormant for too long, finally deliver real value to our country and its people,” Mahama said.
“We will work transparently with regulators and stakeholders to build mines that create shared prosperity.”
Founded in 1997, Engineers & Planners has grown into one of Africa’s largest indigenous mining and civil engineering firms. Its full control of the concessions is widely seen as a restoration of Ghanaian ownership in a sector historically dominated by foreign firms.
Long History of Dormancy
The Black Volta and Sankofa concessions were first granted in 1992 but have remained undeveloped for more than thirty years.
A mix of financial constraints, shifting investor interest, and legal wrangling kept the projects stalled despite their rich potential. Communities in the Upper West Region have long hoped that any development of the concessions would bring infrastructure and social investment to the area.
Past Controversies
Ibrahim Mahama’s name in the mining sector is not without controversy.
In 2016, just days before the Mahama administration handed over power, his other company, Exton Cubic Group Limited, was granted a bauxite concession in the Nyinahin Forest Reserve in the Ashanti Region.
That lease was later revoked by the Ministry of Lands and Natural Resources under then-Minister John Peter Amewu, sparking a legal battle.
In 2018, the High Court ruled in favour of Exton Cubic, stating that the minister had exceeded his powers by revoking the lease “with the stroke of a pen” without following due process.
The dispute was further complicated by environmental concerns, youth protests in Nyinahin, and questions about parliamentary ratification of mineral rights.
Critics argued that Exton Cubic had failed to secure the necessary Environmental Protection Agency (EPA) permits, while government lawyers maintained that the lease was not properly processed.
