Accra: Mr Ibrahim Mahama, Founder and Chief Executive Officer of Engineers and Planners (E and P), revealed that the indigenous mining services firm now manages about 45% of mining operations in Ghana. He expressed the company's ambition to play an even larger role in the nation's economic transformation.
According to Ghana News Agency, Mr Mahama spoke at a partnership signing ceremony between E and P and Stanbic Bank Ghana in Accra. He discussed the firm's growth journey and its future goals, emphasizing resilience, strategic partnerships, and efforts to build local capacity in Ghana's mining sector as key factors in E and P's expansion.
Mr Mahama stated that E and P's growth from a small local contractor to a dominant industry force was due to consistently delivering major projects and investing in both Ghanaian and foreign expertise. The company aims to transition from providing contract mining services to owning mining assets, enhancing local participation in resource management.
He expressed optimism that increased local involvement in mining would stabilize the economy, create jobs, and retain more mineral revenues within Ghana. He highlighted the unique opportunity Ghana's mineral resources present for national development if managed strategically.
The CEO emphasized the importance of long-term institutional partnerships for sustaining growth, noting E and P's evolving relationship with Stanbic Bank over more than two decades. He explained that the company's financial arrangements minimize risk for banking partners, ensuring lenders are repaid before profits are taken.
Mr Kwamina Asomaning, CEO of Stanbic Bank Ghana, praised E and P's determination and steady rise in the mining industry, highlighting the role of perseverance and collaboration in achieving long-term goals. He affirmed the bank's commitment to supporting initiatives that strengthen local enterprise and increase Ghanaian participation in key economic sectors.
Both leaders agreed on the importance of deepening partnerships between financial institutions and indigenous firms to unlock Ghana's natural resource potential. As E and P aims to expand its footprint beyond its current 45% share, Mr Mahama reiterated the company's broader objective of using mining as a means for national development.