EBID’s $120 million financing deal herald’s new era for indigenous mining in Ghana

In a major boost to local ownership and value creation in West Africa’s mining sector, the ECOWAS Bank for Investment and Development (EBID) has approved a $120 million financing facility for Engineers & Planners Limited (E&P), a leading Ghanaian mining and construction firm. The funds will enable the acquisition of the Black Volta Gold Mine, positioning E&P to become Ghana’s first fully indigenous and wholly owned mining company—a landmark achievement in the country’s natural resource narrative.

The transaction, finalised after 18 months of due diligence and negotiations, was formally sealed at a high-profile signing ceremony attended by senior government officials, regulatory authorities, and industry leaders. More than a simple capital injection, the deal signifies a shift in how West African nations are asserting greater control over their natural resource wealth, while aligning their extractive industries with global standards of environmental sustainability, corporate governance, and community engagement.