Business News of Thursday, 26 March 2026

Source: www.ghanaweb.com

E&P Damang Mine Bid: Sophia Akuffo backs greater local ownership in mining sector

A former Chief Justice of the Republic, Sophia Akuffo, has thrown her support behind increased local participation in Ghana's mining and extractive sectors, describing it as a critical step toward economic sovereignty.

Her comments come amid ongoing discussions over the takeover of the Damang Goldfields concession and Azumah Mines by Engineers and Planners (E&P), a Ghanaian-owned mining company.

Speaking at a press conference organised by the Institute of Economic Affairs (IEA), where concerns were raised about government reforms in the extractive sector, Madam Akuffo emphasised the importance of Ghanaian ownership in natural resource exploration.

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The former Chief Justice argued that such a shift would help move the country away from the long-standing “Guggisberg” economic model, in which foreign interests dominate key resource sectors.

“Any kind of legitimate local participation, hooray, thank God. I don't want to know who owns the company. The most important thing is that it is owned by Ghanaians, it is run by Ghanaians, it is a Ghanaian company and it pays its taxes,” Madam Akuffo stated on March 25, 2026.

Meanwhile, the Minority on Parliament’s Lands and Natural Resources Committee has raised concerns about what it describes as a growing pattern of undue advantage involving the local mining firm Engineers & Planners, which was established in 1997.

Despite these concerns, Justice Akuffo maintained that the key issue should be the legitimacy of the process, adding that Ghanaian participation must be encouraged wherever due process is followed.

“Any kind of legitimate local participation, thank God! I don't want to know who owns the company. The most important thing is that it is owned by Ghanaians,” she said.

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Akuffo continued, “Let’s have more Ghanaian companies coming into the picture. There are many, many, many skilled, experienced Ghanaians at every level of what we need, from bringing up the mineral to processing it to adding value to it,” she explained.

The former Chief Justice therefore called on Ghanaians to champion local ownership across the entire mining value chain as part of a broader push to strengthen national control over the country’s natural resources.

MA