Sir Sam Jonah is a prominent Ghanaian business leader

Prominent Ghanaian business leader Sir Sam Jonah has noted that the acquisition of the Black Volta Gold Project is based on merit, without any political favouritism.

He dismissed suggestions that Engineers & Planners secured the project based on political affiliation.

According to him, the deal reflects a long overdue transformation for Ghana's large-scale mining sector.

Despite ongoing controversies, Sam Jonah noted that the deal is a legitimate business move, while emphasising the viable options for Ghana.

He was speaking at a ceremony to celebrate the $100 million financing agreement between Engineers & Planners and ECOWAS Bank for Investment and Development (EBID).

“Let us be clear: this is not a favour. This is not political patronage. This is not crony capitalism.

“Today, we are not merely here to witness the signing of a facility agreement. We are here to celebrate a milestone, affirm a vision, and embrace a bold new chapter in Ghana’s economic story, led not by foreign interests, but by our own,” he said.

Sam Jonah reiterated that the deal was signed in October 2023 “with no fanfare, no interference, and no backroom dealing”, noting that the deal is grounded in “merit, backed by a strong balance sheet, and grounded in solid business fundamentals”.

He also lauded the efforts of the founder of E&P, Ibrahim Mahama, in advocating for Ghana's mining value chain and securing value for Ghana. Jonah said his dream for local mining is being materialised through E&P.

“You are living out my dream. A dream I’ve held for decades. A dream that many believed was too ambitious. Back then, I told him and his partner that while alluvial gold mining was unlikely to yield sustainable returns, hard rock mining was the future… That young man listened. He built a company. He earned the respect of the industry,” he said.

Beyond celebrating the achievement, Sam Jonah said the Black Volta Gold project should be seen as a milestone for the local mining sector.

“Ownership matters. Equity matters. And national pride demands that we do more to ensure that our people are at the heart of our mineral wealth. Our entrepreneurs are not lacking in talent. What they often lack is access: access to capital, access to opportunity, and access to policy support,” he said.

SSD/MA

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