Ghana’s largest indigenous mining contractor Ibrahim Mahama’s Engineers & Planners lands landmark $205m financing from Stanbic

Ghana’s largest indigenous mining contractor, Engineers & Planners Company Limited, has secured a $205m senior secured term loan and revolving credit facility in one of the biggest structured financings arranged for a wholly Ghanaian-owned mining services firm.

The five-year facility was led by Stanbic Bank Ghana LTD in partnership with The Standard Bank of South Africa Limited, with Ecobank Ghana PLC and Absa Bank Ghana LTD joining as lending partners.

According to a media statement announcing the deal, “When Ghanaian businesses scale with the right support, the ripple effects are felt across jobs, supply chains and national growth.”

The facility will support Engineers & Planners’ long-term mining operations with Gold Fields Ghana Limited, strengthening local participation in a sector that remains central to Ghana’s export earnings and economic stability.

Expansion and consolidation

The financing is intended to expand and consolidate existing operations, enabling Engineers & Planners (E&P) to scale its equipment base, strengthen working capital, and pursue new mining opportunities as demand for gold production remains strong.

E&P is widely regarded as Ghana’s leading indigenous mining contractor, providing large-scale mining services including load and haul operations, drilling, and construction support to multinational mining companies operating in the country.

Industry observers say the transaction signals growing confidence in local contractors’ ability to deliver at scale in a capital-intensive industry traditionally dominated by foreign firms.

The statement said the facility would “strengthen local capacity in a sector central to Ghana’s growth,” underlining the broader economic significance of the deal.

High-profile ownership

Engineers & Planners was founded by Ghanaian businessman Ibrahim Mahama, a prominent figure in the mining and construction industries and brother of Ghana’s President John Dramani Mahama.

Mr Mahama has built the company into a major player over the past two decades, positioning it as a flagship example of indigenous participation in Ghana’s extractive sector.

While the financing is a commercial transaction led by banking institutions, the scale of the deal is likely to draw attention given the company’s high-profile ownership and its links to one of Ghana’s most prominent political families.

There has been no indication that the government is directly involved in the transaction, which has been structured as a private-sector financing arrangement among the participating banks and the company.

Mining’s central role

Mining remains one of Ghana’s most important economic pillars, accounting for a significant share of export revenue, foreign exchange earnings and employment. Gold, in particular, continues to underpin macroeconomic stability.

By backing a large indigenous contractor, the participating banks appear to be signalling support for deeper local value retention in the mining supply chain.

For Stanbic and its parent group, the deal also highlights the role regional African banks are playing in financing large-scale industrial operations across the continent.

The five-year tenor of the facility suggests a medium-term growth strategy, giving Engineers & Planners room to expand operations while maintaining liquidity through the revolving credit component.

Broader economic impact

Analysts say the ripple effects could extend beyond the mining pits. Large mining contracts typically support networks of subcontractors, equipment suppliers, logistics providers and local communities.

If deployed effectively, the $205m injection could translate into job creation, improved local procurement, and strengthened technical expertise within Ghana’s mining ecosystem.

The statement’s opening line – that scaling Ghanaian businesses can trigger ripple effects across “jobs, supply chains and national growth” – reflects a wider policy conversation in Ghana about empowering domestic firms in strategic sectors.

For Engineers & Planners, the financing marks a significant milestone in its growth trajectory. For Ghana’s mining industry, it represents another step towards greater indigenous participation in a sector long seen as dominated by foreign capital.

Whether the deal delivers the anticipated economic multiplier effects will depend on execution, market conditions, and gold price stability over the coming years.

But for now, the $205m facility stands as one of the most substantial financial endorsements of a Ghanaian-owned mining contractor to date.