Gold Fields Ghana Limited has made significant investments in local businesses over the past five years, totaling $4.26 billion. Of this amount, $2.59 billion was allocated to businesses in its host communities. The company's commitment to local enterprise development is evident in its consistent in-country procurement spend of 93 per cent over the period. This approach ensures that more economic benefits from its mining operations remain within Ghana.
The company's local procurement expenditure reached GH¢4.7 billion between January and June 2026, with GH¢4.2 billion going to 124 suppliers in its host communities. This information was shared at the third Gold Fields Suppliers Conference, held at the Akoon Clubhouse at its Tarkwa Mine on October 28 and 29, 2026. The conference brought together over 300 local and international suppliers to discuss business partnerships and opportunities for sustainable growth.
The conference, themed "Partnership for Enduring Value: Building Resilient Supply Chain Beyond Mining," aimed to promote sustainable economic opportunities beyond individual mining contracts. Gold Fields' Senior Vice-President and Managing Director, Mr Elliot Twum, emphasized the company's commitment to local content, which goes beyond regulatory compliance. He cited examples of local businesses that have contributed to the company's operations and grown through sustained partnerships.
Mr Twum cautioned suppliers to maintain high standards of quality, safety, environmental responsibility, and corporate governance to meet the operational and sustainability requirements of the mining industry. He also disclosed that over GH¢53 million had been channeled into socioeconomic development through the Gold Fields Ghana Foundation so far this year. This includes funding for an alternative road linking New Atuabo to the Bogoso Junction Highway.
The Gold Fields Ghana Foundation has made a significant impact in the company's host communities, providing scholarships to 150 young people this year. Since its establishment 20 years ago, the Foundation has supported over 3,000 students with full tertiary education funding. Employment from host communities has reached 70 per cent, while the company has contributed over GH¢3.5 billion to the Government of Ghana as of October 2026.
Professor Bernard Kumi-Boateng, Vice-Chancellor of the University of Mines and Technology (UMaT), urged suppliers to use their partnerships with mining companies to build resilient businesses capable of surviving beyond individual contracts. He encouraged suppliers to pursue opportunities in energy, construction, manufacturing, agriculture, and infrastructure, while strengthening their business systems and obtaining professional certifications.
The two-day conference formed part of Gold Fields Ghana's engagement with its business partners to strengthen supply-chain relationships and promote sustainable economic opportunities beyond individual mining contracts. The event provided a platform for suppliers to network and discuss ways to build enduring value and create lasting legacies.
Key points
- Gold Fields Ghana Limited has invested $4.26 billion in local businesses over the past five years.
- The company's local procurement expenditure reached GH¢4.7 billion between January and June 2026.
- Over GH¢53 million has been channeled into socioeconomic development through the Gold Fields Ghana Foundation so far this year.
