Ibrahim Mahama Makes History as First Ghanaian to Fully Own Large-Scale Gold Mining Company
In a landmark move that has redefined Ghana’s relationship with its natural resources, renowned industrialist Ibrahim Mahama has become the first Ghanaian in history to fully own a large-scale gold mining company.
The announcement which took place in the presence of respected business icon Sir Sam Jonah and other key industry stakeholders has been described by many as a turning point for Ghana’s economic and spiritual future.
The groundbreaking deal is backed by a $100 million investment from the ECOWAS Bank for Investment and Development (EBID). Beyond being a major commercial milestone the deal represents a powerful statement about self-determination and ownership in Ghana’s mining sector.
For the first time in our history the gold beneath our soil will serve the people of this land, not distant shareholders, Ibrahim Mahama said. This is about ownership, dignity and transformation.
For over a century Ghana’s gold has largely been mined by foreign companies, with profits often flowing out of the country while local communities bear the environmental and social costs. Despite Ghana’s status as one of the world’s top gold producers, local ownership and control have remained minimal until now.
What makes Mahama’s achievement unique is the totality of the ownership. Unlike other arrangements where local players hold small shares or act as junior partners, this mine is 100% Ghanaian-owned from management to supply chain to profit retention.
This is a full-circle moment, said one stakeholder present at the signing ceremony. We are witnessing a Ghanaian not just participating in the sector, but controlling it entirely. That’s never happened before.
The $100 million funding from EBID also marks a significant shift in how African businesses can access capital. Instead of depending on banks and investors from Europe, North America, or Asia this deal shows that African banks can back African entrepreneurs to harness African resources.
Too often, we are told that Africa lacks the capital to drive its own development, said an EBID executive. This deal proves otherwise. We are backing our own.
For local communities, the benefits could be far-reaching. Historically, the wealth generated from Ghana’s gold mines has enriched foreign shareholders while leaving behind poverty, underdevelopment, and environmental damage. Mahama’s venture aims to reverse that trend and ensure that profits stay in Ghana to benefit its people.
This is economic justice in action, said a development economist. The profits can now be used to build schools fund infrastructure, and support Ghanaian innovation not disappear offshore.
Gold is not just a resource it is sacred, said a cultural historian. For too long it was taken from us without reverence or benefit. Now under Ghanaian stewardship, we believe the land will begin to heal.
As Ibrahim Mahama’s company begins operations many Ghanaians hope this historic step will inspire more local ownership in other sectors and mark the beginning of a new chapter where Ghana’s natural wealth truly serves its people.