Analysts raise red flags over lack of transparency, history of elite control in Ghana’s mining sector
Investigative Desk Report
A major gold concession in northwest Ghana has reportedly been taken over by Engineers & Planners Company Ltd, a firm owned by businessman Ibrahim Mahama, brother of former President John Dramani Mahama. The acquisition of the Black Volta Gold Project, one of Ghana’s largest untapped gold reserves, is facing mounting scrutiny over allegations of irregularities and state capture.
Sources claim the acquisition was carried out forcefully and without adherence to legal or regulatory procedure, raising red flags among civil society actors, legal experts, and mining industry stakeholders.
Ghana’s Largest New Gold Frontier
The Black Volta Gold Project, located along the Ghana–Burkina Faso border, spans 934 square kilometers and is estimated to contain 1.37 million ounces of gold. Early projections indicate the site could yield 163,000 ounces annually, generating an estimated $5 billion per year in revenue—equivalent to more than GH₵52 trillion, based on current exchange rates. Production is expected to taper to 148,000 ounces annually in subsequent years.
This acquisition positions Ibrahim Mahama to control one of the most lucrative gold assets in Ghana outside the multinational mining giants that dominate the industry.
A History of Political Influence in Ghana’s Extractive Sector
Gold has long been central to Ghana’s economy, earning it the historic name the “Gold Coast.” Today, Ghana is Africa’s top gold producer, overtaking South Africa in 2019, and gold contributes more than 40% of total export revenue. However, concerns about how mining concessions are awarded—particularly to politically exposed persons (PEPs)—have been a recurring theme in Ghana’s governance.
In recent years, transparency advocates and international watchdogs such as the Natural Resource Governance Institute (NRGI) and Transparency International have criticized the lack of public oversight, opaque licensing processes, and limited community benefits in Ghana’s mining sector.
Ibrahim Mahama’s Business Record: A Controversial Figure
Ibrahim Mahama is best known for founding Engineers & Planners Ltd., a construction and mining company that has executed contracts in Ghana and West Africa. Despite his success, Mahama’s business operations have been the subject of controversy:
In 2016, the Ghana Revenue Authority (GRA) ordered Engineers & Planners to settle tax debts after the company reportedly issued dud cheques.
In 2017, Ibrahim Mahama was invited by the Economic and Organised Crime Office (EOCO) for questioning over financial irregularities linked to import duties on equipment.
He has also been criticized for allegedly benefiting from government contracts during his brother’s tenure as president (2012–2016), though no convictions or official sanctions were issued.
This latest acquisition revives old concerns about conflicts of interest, nepotism, and abuse of executive influence, particularly given the scale of the resource involved.
“State Capture in Real Time,” Critics Say
“This is not a simple business transaction. It is a calculated attempt to monopolize national wealth by politically connected individuals,” said a civil society advocate who spoke under anonymity. “We are witnessing state capture in real time.”
Legal experts argue that if proper procurement laws, parliamentary approvals, and Minerals Commission guidelines were bypassed, the transaction may be illegal and subject to annulment. They call for urgent investigations by the Commission on Human Rights and Administrative Justice (CHRAJ) and a parliamentary inquiry into the terms of the concession transfer.
Government and Regulatory Silence
As of press time, neither the Ministry of Lands and Natural Resources, the Minerals Commission, nor Engineers & Planners has issued an official statement. Parliament’s Mines and Energy Committee has also yet to comment.
However, opposition leaders and watchdog groups have called for:
Immediate suspension of the project until a full audit is conducted
Public disclosure of the concession agreement
Independent verification of ownership structures and beneficiary parties
An urgent debate in Parliament on extractive sector governance
this deal is expected to become a highly charged political issue Head of the 2028 elections . Ghana’s mining sector has long been criticized for failing to benefit ordinary citizens, and this development may intensify calls for reform.
“We must resist this,” said one campaigner. “This is about our collective future. Ghana’s gold must benefit Ghana’s people—not a privileged few.”
The situation remains fluid. This paper will continue to monitor developments and publish updates
