Newmont Ahafo Foundation nets $7.4 million

Sunyani, Oct. 7, GNA - The Newmont Ahafo Foundation (NADEF) has accumulated $7.4 million since its establishment in 2008. NADEF is a fund set up by the Ahafo Mine of Newmont Ghana Gold Limited (NGGL) at Kenyasi in the Asutifi District of the Brong Ahafo Region to sponsor development projects in host communities. NGGL commits one dollar per ounce of gold it sells and one per cent of its annual net into the fund.

A statement signed by Mr Joseph Danso, interim Executive Secretary of NADEF and made available to the Ghana News Agency in Sunyani on Friday, indicated that a number of development projects including mechanised boreholes, community libraries, classroom blocks, teachers' quarters and modern places of convenience, have been constructed in the beneficiary communities.

It said about 132 entrepreneurs have been assisted with micro-credits to the tune of GH¢40,000 while more than 1,500 second cycle and tertiary students are also enjoying scholarship under the foundation. A durbar would be held on Tuesday, October 11, to officially inaugurat= e all the completed projects under NADEF, the statement said.