E&P Seals Landmark Acquisition of Azumah and Upwest After Ministry-Brokered Settlement

 

Engineers & Planners (E&P), Ghana’s leading indigenous mining and civil engineering company, has officially completed the acquisition of Azumah Resources Ghana Ltd and Upwest Resources Ltd after months of back and forth over the ownership of the concessions.

The deal, which places the long-stalled Black Volta and Sankofa projects fully under Ghanaian ownership and management, follows decisive intervention from the Ministry of Lands and Natural Resources. The ministry, concerned about the disputes and delays surrounding the concessions, instructed the Minerals Commission (MinCom) to mediate and broker an amicable settlement between the parties.

With the Commission’s guidance, a share transfer agreement was reached with the Ghanaian beneficial owner, paving the way for E&P to register the transactions with the Registrar of Companies and secure the Commission’s formal approval.

“This acquisition represents not only a commercial milestone but also a national duty. After decades of inactivity, the Black Volta and Sankofa projects will now deliver value to Ghana,” said Ibrahim Mahama, CEO of E&P.

E&P, established in 1997, is deploying its financial muscle and technical expertise to move quickly into mine development. The company has secured funding and outlined a structured plan that includes:

• Collaborating with the Ghana Revenue Authority (GRA) to audit and verify all loans previously recorded as investments in the projects.
• Repaying all genuine loans, subject to applicable taxes, to ensure fiscal compliance and protect state revenue.
• Fast-tracking mine construction and operations to generate jobs and stimulate local economies in the Upper West Region.

For over three decades, the Black Volta and Sankofa concessions remained dormant, despite their mineral potential. E&P says its takeover signals a new era where Ghanaian-led mining ventures will no longer sit idle but instead drive economic transformation.

Communities in the Upper West Region are expected to benefit from direct employment, improved infrastructure, and social investment initiatives linked to the projects.

The Minerals Commission described the settlement and acquisition as an important precedent for resolving disputes in Ghana’s mining sector. By ensuring transparency, compliance, and local participation, the Commission says it is demonstrating that Ghanaian mining companies can manage and grow assets to global standards while protecting national interests.

With the acquisition complete, E&P is poised to roll out an intensive development programme, turning once-stagnant concessions into active mining operations that contribute royalties, taxes, and community development.

“This is a proud moment for Ghana,” Mr Mahama emphasized. “Our promise is to work transparently with regulators and stakeholders to create shared prosperity for the nation and its people.”