By Prince Ahenkorah
Ibrahim Mahama, CEO of Engineers & Planners (E&P) and brother of President John Mahama, has publicly thanked former president Nana Akufo‑Addo for smoothing the way to take over the Damang gold mine from Goldfields.
The handover ceremony on 18 April in the Western Region laid bare an awkward political truth: the deal that puts a major multinational asset in the hands of the current president’s sibling was enabled by his fiercest political opponent.
Mahama said a document from Akufo‑Addo gave him the mandate to negotiate with Goldfields after the miner threatened to shut down the operation in 2022. “They told me to go to government and get a no‑objection letter,” Mahama explained.
“I must thank our former president, Nana Addo Dankwa, who gave me a document to sit with Goldfields, negotiate, and keep the mine going.”
E&P had worked as a contractor at Damang for three decades. When Goldfields offered to sell, Mahama balked at the initial terms, citing years of unfair treatment. He pushed for a better deal, and the government leaned on the miner. “Government came in and made it clear that the mine would be handed over,” he said.
The technical challenges are real Damang’s hard rock formations chew up equipment. Mahama says a bankable feasibility study and hundreds of millions of dollars in bank commitments have secured the transition.
He also promised an ambitious local development package: astro turfs, clinics, roads to Cape Coast, and even an airstrip within six months. He says he will build a residence in the area to show long‑term commitment.
Observers will note that the takeover bypassed any competitive bidding process. For Akufo‑Addo, who left office in January 2025, facilitating a major business coup for the Mahama family is a striking coda to his presidency. For Ibrahim Mahama, it is a rare public acknowledgment of help from a rival camp.
It is no longer a question whether E&P’s operational record matches its political connections. For the moment, Damang illustrates a shifting landscape in Ghana’s mining sector where the most valuable resource is a combination of gold and power.