Founder and CEO of Engineers & Planners (E&P), Mr. Ibrahim Mahama, has secured a $100 million facility from the ECOWAS Bank for Investment and Development (EBID) to acquire the Black Volta Gold Project in Ghana’s Upper West Region2. The deal, formalized on July 7, 2025, marks a historic milestone as Ghana’s first large-scale, wholly indigenous-owned gold mining venture.
The project, originally held by Azumah Resources, a subsidiary of Australian firm Ibaera Capital, had stalled for over a decade. E&P stepped in with a two-year $100 million payment plan, but legal disputes emerged after Azumah attempted to terminate the agreement in late 2024. E&P contested the termination, citing continued financial contributions and unpaid staff salaries into 2025.
Despite the legal wrangling, E&P’s acquisition is seen as a symbol of indigenous empowerment in Ghana’s mining sector. The mine is expected to produce 163,000 ounces of gold annually in its first five years—about 3% of Ghana’s national output3. The project is also projected to create over 1,000 jobs during construction.