Founder and Chief Executive Officer of Engineers & Planners (E&P), Ibrahim Mahama, says the indigenous mining services firm now controls about 45 per cent of mining operations in Ghana.
He said it is positioning itself to take on an even bigger role in the country’s economic transformation.
He made the remarks at a partnership signing ceremony between E&P and Stanbic Bank Ghana in Accra, where he reflected on the company’s growth journey and its future ambitions.
Mr Mahama said E&P’s expansion over the years had been driven by resilience, strategic partnerships and a deliberate effort to build local capacity within Ghana’s mining sector.
“Today, we can confidently say we hold about 45% of mining operations in Ghana. But we are not stopping there. We are looking forward to acquiring more and deepening our contribution to economic development,” he said.
He noted that the company, which began as a small local contractor, had grown into a dominant force in the industry by consistently delivering on major projects and investing in both Ghanaian and foreign expertise.
According to him, the vision is no longer limited to providing contract mining services but extended to ownership of mining assets to ensure greater local participation in the extraction and management of Ghana’s mineral resources.
“We are moving progressively from contracting into ownership. Ghana has so much gold and potential, and we believe local companies must play a leading role in harnessing that wealth,” he said.
Mr Mahama expressed optimism that stronger local participation in mining would help stabilise the economy, create more jobs and retain a greater share of mineral revenues within the country.
He stressed that Ghana’s mineral endowment presented a unique opportunity for national development if managed strategically and inclusively.
The E&P CEO also highlighted the importance of long-term institutional partnerships in sustaining growth, noting that the company’s relationship with Stanbic Bank had evolved over more than two decades.
He explained that the company had structured its financial arrangements in a way that minimised risk for its banking partners, ensuring that lenders were repaid before profits were taken.
“That structure has built trust and allowed us to scale up confidently,” he added.
Chief Executive Officer of Stanbic Bank Ghana, Kwamina Asomaning, commended E&P for its determination and steady rise in the mining industry.
He said the company’s journey demonstrated that sustained effort, collaboration and belief in long-term goals could yield significant results.
“It is easy to focus only on success, but behind it is a story of perseverance and staying the course through difficult times,” Mr Asomaning said.
He added that the bank remained committed to supporting initiatives that strengthened local enterprise and expanded Ghanaian participation in key sectors of the economy.
Both leaders agreed that deepening partnerships between financial institutions and indigenous firms was critical to unlocking the full potential of Ghana’s natural resources.
As E&P sets its sights on expanding its footprint beyond its current 45 per cent share, Mr Mahama said the company’s broader objective remained clear: to use mining as a vehicle for national development.
“We believe Ghanaian companies can lead, compete and own. That is the future we are building,” he said.
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Source: www.myjoyonline.com