The Chief Executive of the Ghana Investment Promotion Authority, Simon Madjie, has expressed support for efforts to encourage more Ghanaians to own significant stakes in the country's mining sector. He noted that after several years of mining and pushing for required reforms, especially regarding local content, the time is right to ensure indigenes own a stake in the sector. Madjie made these comments on PM EXPRESS Business Edition on October 8, 2026.
Madjie cited local mining companies and contractors that have demonstrated their ability to compete with multinationals operating in the sector. He specifically mentioned firms like Engineers and Planners (E&P) and their accomplishments in the mining sector over the years. According to Madjie, E&P's mining model should be seen as a blueprint for building local mining giants in Ghana.
The Chief Executive of the Ghana Investment Promotion Authority noted that E&P was initially a contractor for most companies but has since developed the capacity to own and operate mines. He emphasized that this progression is a positive step towards building local giants in the mining sector and other sectors of the economy. Madjie added that the government is committed to supporting every Ghanaian and business owner to own a stake in critical sectors of the economy.
Madjie assured Ghanaians that the government is interested in the business of every citizen and aims to help them grow and compete on the international stage. He also reassured foreign investors that the government is not anti-foreigners but rather seeks to encourage and develop the capabilities of local businesses. According to Madjie, these efforts will enable Ghanaians to own stakes in critical sectors of the economy.
The Ghana Investment Promotion Authority has been working to promote investments in various sectors, including mining. Madjie's comments reflect the authority's commitment to supporting local businesses and encouraging foreign investment. The authority's efforts aim to create a more favorable business environment for both local and foreign investors.
Madjie's call for more local participation in the mining sector aligns with the government's objective of promoting economic growth and development. The mining sector is a significant contributor to Ghana's economy, and increasing local ownership could lead to more benefits for the country. The government is working to create an enabling environment for local businesses to thrive.
The E&P model has been cited as a successful example of a local company that has developed the capacity to own and operate mines. This model could be replicated in other sectors to promote local economic growth and development. The Ghana Investment Promotion Authority will continue to support efforts to encourage local participation in key sectors of the economy.
Key points
- The Ghana Investment Promotion Authority supports efforts to encourage more Ghanaians to own stakes in the mining sector.
- Local mining companies like Engineers and Planners (E&P) have demonstrated their ability to compete with multinationals.
- The E&P model should be seen as a blueprint for building local mining giants in Ghana.
