Simon Madjie, Chief Executive of the Ghana Investment Promotion Authority, announced on October 8, 2026, that the time has come for Ghanaians to own a significant stake in the country’s mining sector. Speaking on PM EXPRESS Business Edition with host George Wiafe, Madjie singled out Engineers and Planners (E&P) as an example of how local firms can evolve into major players in mining.
“I believe that after several years of mining and pushing for the required reforms, especially when it comes to local content, the time is right to ensure indigenes own a state in the mining sector,” Madjie said. He pointed to E&P’s track record, noting that the company had operated as contractors for many mining companies and built enough capacity to now manage and own mines independently.
“The mining model of E&P should be seen as the model for building mining giants in Ghana,” Madjie added. He emphasized that E&P’s role in the value chain positioned them well to compete with multinational corporations that dominate the sector.
Madjie said local firms like E&P demonstrate that Ghanaian companies can meet international standards and “equally compete with the multinationals operating in this space.” His comments come amid ongoing efforts by the government to reform policies and encourage local participation in mining, a sector that has long been dominated by foreign investors.
The Ghana Investment Promotion Authority chief also reassured both Ghanaian entrepreneurs and foreign investors of the government’s stance. “Ghanaians should be rest assured that the government is interested in the business of every Ghanaian; our objective is to help them to grow and compete on the international stage,” he said.
At the same time, Madjie made clear that the government is not anti-foreign investors. He described the push for local ownership as a move to develop indigenous capabilities rather than exclude foreign participation. “Every foreign investor should also be rest assured that, as a government, they are not anti-foreigners,” he said.
The mining sector in Ghana has been a major contributor to the economy, but local ownership has remained limited. For years, multinational companies have controlled mining operations, with local content policies gradually introduced to increase Ghanaian participation. Madjie’s remarks suggest that the government is now ready to accelerate these efforts, using companies like Engineers and Planners as a blueprint for success.
E&P’s rise to prominence in the mining sector spans years of contracting work, during which they built technical expertise and operational capacity. Madjie noted that this experience has equipped them to not only supply services but also run mining operations. “They were the contractors for most of the companies over the years and actually played in value chain and now they have the capacity to own and run these mines,” he said.
The government’s approach appears to be one of gradual empowerment, supporting local businesses to scale up in industries traditionally dominated by international players. Madjie’s comments reflect a strategic shift toward creating “local giants” in mining and other sectors of the economy.
The announcement on October 8 came as part of a broader discussion on business development and investment in Ghana, with the Ghana Investment Promotion Authority reaffirming its role in encouraging domestic entrepreneurship.
Madjie’s endorsement of Engineers and Planners as a model for local mining growth suggests that the government sees potential in established local contractors to expand their footprint. Their transition from service providers to mine owners represents a significant evolution in the sector’s structure.
Despite the emphasis on local ownership, Madjie acknowledged the continuing importance of foreign investment. He said the government wants to grow Ghanaian businesses while maintaining an open environment for international players.
The challenge remains for local companies to scale operations, secure financing, and meet regulatory requirements to compete with well-capitalised multinationals. Madjie’s remarks underline a government strategy that combines policy reform with targeted support to enable this transition.
The support for Engineers and Planners as a model may also encourage other local firms to pursue ownership stakes, potentially reshaping Ghana’s mining landscape. The government’s public backing signals an intention to increase indigenous participation beyond contracting and service provision.
Madjie’s comments on October 8 provide a clear indication that the Ghana Investment Promotion Authority is positioning itself as a catalyst for local business growth in mining. The focus on E&P suggests a blueprint that other companies might follow as the government pushes for broader local ownership.
According to Joy Online.
