Latest news with #Accra
Zawya
2 hours ago
- Business
- Zawya
Ghana's President Mahama to Deliver Keynote Address at Mining in Motion 2025
John Dramani Mahama, President of the Republic of Ghana, will deliver the keynote address at the official opening of the Mining in Motion conference, taking place from June 2-4 at the Kempinski Hotel in Accra. His address will outline the country's strategy and efforts by Africa to drive economic development through the sustainable exploitation of mineral resources. As Africa's leading gold producer, Ghana – under the leadership of President Mahama - continues to set the standard in sustainable resource management, investment attraction and local content development. In 2024, the country's gold mining sector generated $11.6 billion, with small-scale gold mining ( alone contributing $5 billion in export revenue and employing over one million people. The President's participation underscores Ghana and Africa's commitment to fostering a responsible, high-growth mining industry that supports economic expansion and job creation. Under the theme, Sustainable Mining&Local Growth – Leveraging Resources for Global Growth, Mining in Motion 2025 will convene Africa's top industry stakeholders, global investors and leading institutions – including the World Bank and the World Gold Council – to explore emerging trends, regulatory developments and technological advancements shaping the future of mining. The conference will highlight Ghana and Africa's strategic vision, emphasizing policies that enhance local benefits, promote sustainability and strengthen international partnerships. Organized by the Ashanti Green Initiative – led by Oheneba Kwaku Duah, Prince of Ghana's Ashanti Kingdom – in collaboration with the World Bank and the World Gold Council, with the support of Ghana's Ministry of Lands and Natural Resources, the summit offers unparalleled opportunities to connect with industry leaders and engage in critical discussions on artisanal, small-scale and large-scale mining. Stay informed about the latest advancements, network with industry leaders, and engage in critical discussions on key issues impacting ASGM and medium to large scale mining in Ghana. Secure your spot at the Mining in Motion 2025 Summit by visiting For sponsorship opportunities or delegate participation, contact Sales@ Distributed by APO Group on behalf of Energy Capital&Power.
Zawya
a day ago
- Business
- Zawya
Mining in Motion to Host African Ministers Driving Extractive Sector Growth
The upcoming Mining in Motion summit - Ghana's premier gathering for mining stakeholders, scheduled for June 2 - 4, 2025, in Accra - will feature local and regional ministers who will participate in panel discussions, investment forums and exclusive networking sessions aimed at showcasing opportunities within the artisanal gold mining sector. The event will feature local ministers including Hon. Emmanuel Buah, Minister of Lands and Natural Resources, Ghana; Hon. Ahmed Ibrahim, Minister for Local Government, Decentralization and Rural Development, Ghana and Hon. Dr. Ibrahim Murtala Muhammed, Minister for Environment, Science, Technology, and Innovation Ghana. Their participation showcases Ghana's commitment to engaging with international stakeholders to support mining sector growth, job creation, and GDP expansion. Regional ministers include Colonel Ousmane Abarchi, Minister of Mines, the Republic of Niger; Hon. Wilmot J. Paye, Minister of Mines and Energy, Republic of Liberia; Hon. Godard Motemona Gibolum, Deputy Minister of Mines, Democratic Republic of Congo; Hon. Abdiwahab Abdi Omar, Deputy Minister of Mineral Resources and Petroleum, Republic of Somalia; Hon Dr Keneth Zikhale Ng'oma, Minister of Mines, Malawi; Kourouma Aboubacar, Vice Minister of Mines and Geology, Guinea-Conakry. Their participation underscores the commitment by African mineral-rich countries to strengthen cooperation on mining sector growth. The summit will also welcome ministerial-level figures such as Moses Michael Engadu, Secretary-General, Africa Minerals Strategy Group and Ousmane Mbaye, President of Chamber of Mines, Senegal. Organized by the Ashanti Green Initiative – led by Oheneba Kwaku Duah, Prince of Ghana's Ashanti Kingdom – in collaboration with Ghana's Ministry of Lands and Natural Resources, World Bank, and the World Gold Council, with the support of Ghana's Ministry of Lands and Natural Resources, the summit offers unparalleled opportunities to connect with industry leaders. Stay informed about the latest advancements, network with industry leaders, and engage in critical discussions on key issues impacting small-scale miners and medium- to large-scale mining in Ghana. Secure your spot at the Mining in Motion 2025 Summit by visiting _ For sponsorship opportunities or delegate participation, contact Sales@ Distributed by APO Group on behalf of Energy Capital&Power.
Zawya
3 days ago
- Business
- Zawya
MKS PAMP to Participate at Mining in Motion as Bronze Sponsor
The Mining in Motion 2025 Summit – Ghana's premier gathering for mining stakeholders - welcomes global precious metals trading and investment firm MKS PAMP as a bronze sponsor. Taking place on June 2 - 4, 2025 in Accra, the summit will serve as a platform for MKS PAMP to showcase its growing contributions to Ghana's mining sector, particularly its support for responsible and inclusive gold supply chains. As a sponsor, MKS PAMP will take part in high-level panel discussions, highlighting innovative financing models aimed at empowering Ghana's artisanal and small-scale gold mining (ASGM) sector. The company's global operations - spanning sourcing, refining, trading, and supplying of precious metals - include a strong focus on Ghanaian gold, contributing to both local industry growth and the stability of global gold supply. Through its partnership with the Bank of Ghana, MKS PAMP is actively supporting ASGM operators by providing financial and technical assistance. The partnership is designed to help small-scale miners transition into the formal gold market, ensuring they benefit from global trading standards while enhancing traceability and compliance. In addition to supporting small-scale miners, MKS PAMP also works with large-scale operators to reinforce transparency across the value chain. In a notable collaboration with Newmont Corporation - which operates the Ahafo and Akyem Mines in Ghana - MKS PAMP launched mine-to-market traceable gold bars. The solution enables consumers to track the origin of their gold while offering regulators and stakeholders confidence in the transparency and ethical sourcing of monetized resources. At Mining in Motion, MKS PAMP will delve deeper into these contributions through participation in exclusive networking sessions and project showcases, engaging with local, regional, and international partners. The firm's participation at Mining in Motion reflects a broader commitment to supporting sustainable development, responsible sourcing, and emerging investment opportunities within Ghana's expanding gold sector. Organized by the Ashanti Green Initiative – led by Oheneba Kwaku Duah, Prince of Ghana's Ashanti Kingdom – in collaboration with Ghana's Ministry of Lands and Natural Resources, World Bank, and the World Gold Council, with the support of Ghana's Ministry of Lands and Natural Resources, the summit offers unparalleled opportunities to connect with industry leaders. Stay informed about the latest advancements, network with industry leaders, and engage in critical discussions on key issues impacting small-scale miners and medium- to large-scale mining in Ghana. Secure your spot at the Mining in Motion 2025 Summit by visiting For sponsorship opportunities or delegate participation, contact Sales@ Distributed by APO Group on behalf of Energy Capital&Power.
Zawya
3 days ago
- Business
- Zawya
Afreximbank tells investors Ghana up to date on loans, risking creditors' ire
LONDON - Afreximbank has signalled that Ghana has kept up loan repayments to it, two sources told Reuters, potentially setting Accra on a collision course with its other lenders that have already agreed to take losses to help the country recover from default. The African lender, the sources said, told investors on a May 15 call that Ghana and Malawi - which is also undergoing a debt restructuring - were "up to date" with their loan facilities, suggesting neither country had run up arrears. While Ghana's restructuring of $13 billion worth of international bonds and debts to official creditors concluded last year, it must also restructure its commercial debt before it can fully emerge from default. Afreximbank says it is a multilateral institution which, like the IMF and the World Bank, is exempt from taking losses when countries default. But sources told Reuters last month that the Paris Club group of official lenders has made it clear that Ghana, and also Zambia which similarly agreed a deal with its primary creditors last year, must restructure their debts to Afreximbank and the Eastern and Southern African Trade and Development Bank (TDB). In a letter seen by Reuters from Ghana's finance ministry to Afreximbank, dated May 21, the government requested the bank to begin debt treatment discussions. "The objective of these discussions is to identify debt treatment solutions that are acceptable to Afreximbank, while ensuring Ghana complies with the debt sustainability parameters of the IMF programme and the Comparability of Treatment principle as assessed by the OCC," the letter said. Ghana said in a statement on Thursday that it remained in arrears with all external creditors eligible for restructuring and that no creditor had been treated preferentially. Afreximbank declined to comment beyond a May 21 statement saying it was not participating in debt restructurings with member countries. Ghana defaulted in 2022, spurring the worst economic crisis in a generation against the backdrop of the COVID pandemic, Russia's invasion of Ukraine and higher global interest rates. The gold, cocoa and oil-producing nation owes Afreximbank at least $750 million, which, if counted as commercial debt, would make up almost a quarter of the country's near $4 billion of such loans, according to think tank ODI Global. It is unclear when Ghana and Malawi were due to make payments to Afreximbank. The timing is particularly pertinent for Ghana after it included a clause in international bonds issued late last year as part of its debt rework stipulating it cannot treat commercial creditors better than its bondholders. "Zambia, Ghana and Malawi are caught in the middle between different creditors," said Chris Humphrey, a senior research associate with ODI, adding that "they're being forced to make a difficult decision". Malawi and Zambia did not immediately respond to requests for comment. Zambia has also told other media that it would restructure Afreximbank debt. LENDER OF LAST RESORT Afreximbank, with a $42 billion balance sheet and shareholders including governments and private investors, is an important lender to the continent, particularly as concessional finance and aid funding shrink. Lutz Röhmeyer, head of portfolio management at Capitulum Asset Management, which holds Ghanaian bonds, said the bank is important for countries when they cannot access bond markets. "If you do not get any funding, you have to cut government spending." If Afreximbank's loans are deemed eligible for restructuring, its credit rating could be affected, in turn pushing up its own borrowing costs, its investors said. Fitch rates the lender 'BBB' and Moody's 'Baa1'. Afreximbank said in its first-quarter report that for its $27.8 billion loan book, its non-performing loans ratio was 2.44%, without identifying individual clients. Fitch warned last year that an NPL ratio above 6% was among factors that could lead to a negative rating action or downgrade. While some of its lending is at rates above those that are widely considered concessional terms, some point to Afreximbank's willingness to step in as a lender of last resort at times of strife for countries such as Ghana. Accra paid as much as 9.55% to the lender for parts of its loan arranged in 2022, shortly before it tumbled into default.
Zawya
3 days ago
- Business
- Zawya
Mining in Motion Welcomes United Kingdom (UK) – Ghana Gold Program as Bronze Sponsor
The United Kingdom - Ghana Gold Program (UKGGP) has confirmed its participation as a Bronze Sponsor at the highly anticipated – Ghana's premier gathering for mining stakeholders, scheduled for June 2 – 4, 2025 in Accra. Implemented by UK-based TAG International in partnership with the Ghanaian government, the UKGGP aims to combat illegal mining, promote the formalization of artisanal and small-scale gold mining (ASGM), and enhance miners' technical capabilities through targeted training and capacity-building initiatives. At Mining in Motion, UKGGP representatives will engage with Ghanaian regulators, mining stakeholders, and international partners to address the pressing challenges posed by illegal mining and explore best practices for sustainable and inclusive mining development. Despite generating over $5 billion annually in export revenue, Ghana's ASGM sector loses up to $2.3 billion to illegal operations - a gap that can be significantly reduced through effective formalization. In response, the UKGGP is spearheading community development and skills training efforts in mineral-rich regions such as Aboso, Prestea, and Bondaye, aiming to equip miners with the tools needed to operate within the formal mining value chain. Mining in Motion, with its strong focus on ASGM empowerment, formalization and environmental rehabilitation and sustainability, provides an ideal platform for UKGGP to showcase its mission and impact. UKGGP representatives will participate in high-level panel discussions, exclusive networking sessions, and project showcases, highlighting initiatives aimed at empowering ASGM operators, promote environmental rehabilitation, and drive sustainable mining practices in Ghana. Organized by the Ashanti Green Initiative – led by Oheneba Kwaku Duah, Prince of Ghana's Ashanti Kingdom – in collaboration with Ghana's Ministry of Lands and Natural Resources, World Bank, and the World Gold Council, with the support of Ghana's Ministry of Lands and Natural Resources, the summit offers unparalleled opportunities to connect with industry leaders. Distributed by APO Group on behalf of Energy Capital&Power. For sponsorship opportunities or delegate participation, contact: Sales@ About Mining in Motion Summit: Stay informed about the latest advancements, network with industry leaders, and engage in critical discussions on key issues impacting small-scale miners and medium- to large-scale mining in Ghana. Secure your spot at the Mining in Motion 2025 Summit by visiting
