Ing. Nana Kwadwo B. Frimpong(ManPower) @IngNBK

Congratulations Boss

10% to 5%…. How did we get here as a nation?

How can young Ghanaians retain hope in this country when the system is unable to protect its citizens? When someone stated that a certain visa holds more relevance than a PhD in Ghana, some individuals took issue. May their gentle soup rest in perfect peace😪😪😪😪😪😪

A country that is governed by the rule of law where every person is equal before the law has now turned into special treatment for special people. Judges are now afraid to give sound judgment. Bad precedent and shameful in my opinion.

Minority Leader, Hon. Alexander Afenyo-Markin, has cautioned political leaders that the growing influence of social media could spell danger for Ghana’s political establishment. He warned that if the youth lose trust in the two major political parties, they may rise to take over, leaving today’s political leaders facing the risk of imprisonment. Afenyo-Markin further noted that this could happen faster than many anticipate if politicians fail to focus on good governance and continue the cycle of vindictive, payback politics.

In case you missed Newsfile today, here is the lowdown: 1. In July 2025, a company called Engineers & Planners (E&P), owned by one of Ghana's top politicians & businessmen, announced that it had raised $100m from the Ecowas Bank (EBID) to buy the Black Volta goldmine. 2. Black Volta Mine is super interesting because it opens up a new gold mining frontier in Ghana's Upper West, away from the traditional gold hubs in the middle belt. By some estimates, the mine may produce 2m ounces of gold over its lifetime, which at current prices would fetch over $7bn. (Asset valuation is, of course, based on net, not gross, cashflow.) 3. The only problem is that the investors who have owned the rights to the mine since 2020, Ibaera, weren't part of the announced deal. They had broken off their relationship with E&P in December 2024 many months before the EBID announcement. It seemed as if E&P was trying to strong-arm them to hand over the mine. 4. That's what got me interested: governance and the investment climate are undermined if businesses with political connections try to strong-arm others and take over their assets. 5. After massive public controversy, Ghana's Energy Minister intervened, and E&P resumed negotiations with Ibaera. Meanwhile, an arbitration in London initiated by E&P in October 2024 was also ongoing. 6. The negotiations centred around E&P paying ~$100m to clear off loans the investors had made to their 100% owned Ghana entity, Azumah Ghana, that holds the mining license for Black Volta issued in 2014 (I will ignore the smaller Upwest mine in my analysis). The loans reflect spending on exploration to confirm where the gold is concentrated on the many square kilometres of land in the license area. 7. Since Ibaera invested for profit, there was also an understanding in the initial 2023 agreement signed with E&P that E&P would raise over $200m (updated from $160m based on a bankability study) to build the mine and thus earn the full shares of the company, allowing the investors to exit at multiples of the money originally invested. Now that trust was broken, the negotiations centred on E&P paying another $100m to acquire all the shares instead of co-developing the mine with the investors. 8. Between 11th July and 5th September, during which negotiations and the arbitration proceedings have proceeded in parallel, the issues couldn't be resolved. In short, the investors wanted their money to walk away. But for whatever reason, E&P hasn't paid. 9. On 5th September, E&P withdrew its own case from arbitration. Then, on 8th September, it announced a takeover of 100% of the shares of Azumah Ghana, the Black Volta license holder, which itself is 100% owned by Ibaera through IGIC and Azumah Australia. Naturally, the move confused observers. 10. What actually happened is that the Secretary to Azumah Ghana, one Hector Nyinaku, had been listed as the "beneficial owner" of the Azumah Ghana shares. This person was the Admin Manager of Azumah during the time of the previous owners. When ownership changed to Ibaera in 2020, he remained listed as the "beneficial owner" even though he doesn't own a single share and isn't the ultimate controller of the company or owner of its economic assets in anyway. I consider his role an "implied trusteeship." 11. In short, the "takeover" announced on 8th September was simply shares moving from Azumah's Secretary, Mr. Nyinaku, to E&P, without Ibaera's consent. 12. Naturally, Ibaera was livid, hence the threat to increase their claim at arbitration to $1 billion and expose Ghana if the state assists E&P to keep the shares. 13. So, what's the latest? Negotiations have accelerated. It is clear that E&P has taken a risky gambit. It has boxed Ibaera into a corner to force its hand. But by so doing, it has also made the arbitration tribunal far more likely to rule against it. The high-stakes gamble would only work if it gets Ibaera to agree on a quicker, perhaps cheaper, settlement, thus terminating the arbitration (which continues despite E&P's withdrawal of its claims because of Ibaera's counterclaims). Thereby increasing the chances of convincing financiers to release the funds for them to pay off Ibaera. 14. So far, the only serious financiers we have spotted hanging around the deal are the Ecowas Bank (EBID) and CBG Ghana, both public banks. 15. There are risks in how E&P has approached this affair, knowing full well that it would need to approach the market for over $200m to build the mine after takeover. 16. There is a vocal group of online warriors pushing the narrative that Ghana doesn't need any investors and therefore that the country's, and by inference E&P's, investment reputation doesn't matter. This is quite ridiculous. There are many mineral deposits lying around in Ghana that can't be developed due to lack of capital. There are 11 sites with manganese occurrences, for instance, and about the same number with credible iron occurrences. There are many gold occurrences in the North that remain untapped as well. Why haven't the "local champions" these keyboard warriors say they are fighting for developed these sites? Simple: because capital is scarce. Building capacity for indigenous ownership of mines in Ghana actually require safeguarding the investment climate, which is the work some of us have been doing for years despite widespread misunderstanding and motive questioning. 17. The cost of confirming enough reserves or "mineral concentration" before proceeding to build a viable, modern, mine is massive. That is why prizes like Black Volta, where so much money has been spent over the years and a lot of work done to position the mine for investment, are so valuable. And are being so ferociously fought over. 18. We hope that, going forward, E&P will balance ambition with prudence as it seeks to close this chapter. The people of Wa - Lawra deserve the jobs and local investment that could come from the mine if properly managed.

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The reason why his security boys are going around with mask on their face acting with impunity. Power is transient and laws are meant to change or applied base on jurisprudence. Give time sometime

The Ghana we know. ✏️

🚨 FREE SPEECH UNDER ATTACK 🚨 When President Nana Addo Dankwa Akufo-Addo and the NPP were in power, we took the criticism — even the disrespect — without fear. Some went as far as calling for his death, yet he stood firm, declaring: “This is the democracy we want — one where leaders can be criticized without intimidation or persecution.” Today, that tolerance is gone. 🔴 Citizens are being arrested. 🔴 Homes are raided at dawn. 🔴 Voices are silenced — just for political opinions. This is NOT the Ghana we fought for. This is NOT the democracy we deserve. This is SHAMEFUL. #FreeSpeechUnderAttack #DefendDemocracy #Ghana

God‼️ 😭😭😭

Today, you believe Nana's voice and former position as President will impact the fight against galamsey. I created a proverb: the crow may challenge the eagle, but the eagle will soar high until the crow exhausts itself and falls.

This is not good

The precedent being set by the NDC is astonishing. What a strange country we are running! Corruption appears to be associated with one side, while the other side is given a free pass. Only time will tell how history judges this.

GOOD LAWYER KNOW THE LAW; GREAT LAWYER KNOW THE JUDGE “A good lawyer knows the law; a political lawyer takes the judge to lunch”. Mark Twain- edited version

Hmmm 🤔

Dr Mahamudu Bawumia appreciate you dear delegates 🔵⚪🔴🐘✌ #NationalDelegatesConference #Bawumia2028

The job of the governor is very difficult. The explanations behind them are endless.

When the baboons and monkeys heard that the farmer who always chased them away had passed on, they danced, thinking their troubles were over.But come the next season,the fields were empty. No maize. No food.Only then did they understand the one they hated was the one who fed them