Connect with us

Business

Ghana Drives Small-Scale Gold Mining (ASGM) Growth, Sustainable Mining with Global Partnerships

Published

on

Under the theme, “Sustainable Mining & Local Growth: Leveraging Resources for Global Impact,” the Mining in Motion Summit will highlight how global partnerships are driving the growth of Ghana’s mining sector and economy

ACCRA, Ghana, March 26, 2025/APO Group/ –Ghana is strengthening its collaboration with international partners to enhance (https://apo-opa.co/4kYCvVX) its small-scale gold mining (ASGM) sector and the broader gold value chain for socioeconomic development. The Ashanti Green Initiative, led by Oheneba Kwaku Duah, Prince of Ghana’s Ashanti Kingdom, is spearheading the inaugural Mining in Motion Summit in partnership with the World Bank and the World Gold Council. Scheduled for June 2-4, 2025 in Accra, the summit brings together stakeholders from Ghana’s ASGM sector, major mining players and global investors to discuss best practices for further empowering the ASGM industry. In 2024 alone, ASGM contributed $5 billion in export revenue and employed over one million people, underscoring its significance in Ghana’s mining landscape and economy.

Global Partnerships and ASGM Growth 

Ghana is also implementing (https://apo-opa.co/3QLQQXV) the Ghana Landscape Restoration and Small-Scale Mining Project, in partnership with the World Bank, to formalize the ASGM sector through the empowerment of District Mining Committees. Given the sector’s potential for job creation, the project plays a crucial role in advancing Ghana’s employment and economic growth agenda. Additionally, Ghana is leveraging expertise and financing from global partners to enhance local value addition. The country’s Central Bank and India’s Rosy Royal Minerals have been operating the Royal Ghana Gold Refinery (https://apo-opa.co/4c2ec58) since its launch in August 2024. The facility presents a transformative opportunity for the ASGM industry, enabling greater contributions to GDP growth through value-added gold products. In November 2024, the Minerals Income Investment Fund of Ghana partnered with South Africa’s Mintek to boost the technical expertise of local miners.

Global Cooperation on Industrial Mining 

Ghana’s industrial mining sector is also witnessing significant international cooperation, with new projects set to expand production. Cardinal Resources is set to boost Ghana’s gold output by 358,000 ounces with the launch of the Namdini Mine in mid-2025, while Newmont’s Ahafo North Project will add another 325,000 ounces in the second half of the year. Meanwhile, Canadian mining firm Asante Gold is preparing to select a contractor for its Bibiani Mine Expansion Project in Q3 2025. The UAE, which accounted for 40% of Ghana’s gold exports in 2024, continues to play a significant role in the sector’s expansion. UAE-based Emiral Resources Limited, the majority shareholder in Asante Gold, is investing in new mines and the modernization of existing facilities in Ghana through Asante Gold’s $525 million expansion strategy.

Amid increasing global partnerships in Ghana’s mining sector, Mining in Motion 2025 seeks to expand these collaborations, providing a platform for deal signings and strategic partnerships to promote responsible and sustainable gold mining. The event will feature high-level panel discussions and exhibitions from key decision-makers, including Otumfuo Osei Tutu II, King of the Ashanti Kingdom; H.E. John Dramani Mahama, President of Ghana; and representatives from the United Nations, African Union and ECOWAS, highlighting lucrative investment opportunities in Ghana’s burgeoning gold mining sector.

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 www.MininginMotionSummit.com. For sponsorship opportunities or delegate participation, contact Sales@ashantigreeninitiative.org

Distributed by APO Group on behalf of Energy Capital & Power.

Business

Verdant Capital Hybrid Fund completes an additional investment of USD 4.5 million in LOLC Africa

Published

on

LOLC

The investment will support LOLC’s global expansion strategy in Africa, by financing MSMEs, thereby fostering financial inclusion, employment creation, income generation, and economic growth

Verdant Capital (www.Verdant-Cap.com) is pleased to announce that its Verdant Capital Hybrid Fund (the “Fund”) has completed an additional investment of USD 4.5 million in LOLC Africa Singapore Limited (“LOLC Africa”). This investment brings the total investment in LOLC Africa to USD 13.5 million. This follows the initial investment of USD 9 million in LOLC Africa, completed in June 2023. Both investments are structured as holding company loans, and they are being directed towards LOLC Africa’s operating lending subsidiaries in Zambia, Rwanda, Egypt, Kenya, Tanzania, Nigeria, Malawi, Zimbabwe, Ghana, and the Democratic Republic of Congo.

Founded in 1980 in Sri Lanka, LOLC entered the African continent in 2018. Verdant Capital Hybrid Fund is the first external investor in LOLC Africa’s operations, reflecting the Fund’s catalytic investment approach. These investments are driving the expansion of LOLC Africa’s micro, small and medium enterprises (MSMEs) financing footprint across the continent. Additionally, the Fund’s Technical Assistance Facility (TAF), has offered financial support for LOLC Africa’s Social Ratings and Client Protection Pre-Certifications for its subsidiaries in Zambia and Egypt, with further Technical Assistance initiatives in the pipeline.

LOLC is recognised as one of the top-performing global microfinance groups, and the Fund’s investment aligns with its strategy of picking the top performers in each theme or category. LOLC’s business model focuses on the “bottom of the pyramid”, increasing access to MSME financing and customer deposits, thereby advancing it financial inclusion objectives.

The Fund’s investment will provide LOLC Africa with more funding to support and expand the lending activities of its existing subsidiaries in Africa, primarily targeting MSMEs. Furthermore, the investment will strengthen the capital bases of the existing and potentially new subsidiaries in Africa. LOLC’s expansion of the MSME lending model is not only about pursuing its commercial ambition but is also a commitment to sustainable and socially responsible growth. By extending tangible benefits to those communities at the bottom-of-the-pyramid, LOLC Africa promotes financial inclusion, job creation, income generation, and overall economic growth.

This investment represents a diversified exposure to multiple African markets as LOLC continues to scale its operations. The Fund’s investment is also yielding a return aligned with the Fund’s return target, reinforcing the value of supporting high-impact financial inclusion initiatives in emerging markets.

Suits & Advisors (“S&A”) acted as an advisor to LOLC on this transaction.

Distributed by APO Group on behalf of Verdant Capital

Continue Reading

Business

Ghana’s Downstream Regulator Joins Accra Investor Briefing to Advance Value Chain

Published

on

The Accra Investor

The Accra Investor Briefing will share insights into Ghana’s petroleum industry ahead of the African Energy Week: Invest in African Energies conference this September

ACCRA, Ghana, April 7, 2025/APO Group/ –With a goal to increase the share of liquefied petroleum gas (LPG) to 50% of the market by 2030, Ghana’s downstream regulator the National Petroleum Authority (NPA) is promoting private-led investment across the petroleum value chain. Strengthened policies and technology-driven strategies are already bolstering downstream productivity, but the NPA is seeking greater investment to strengthen fuel security and distribution across West Africa.

During the Invest in African Energies: Accra Investor Briefing on April 14, 2025, taking place at the Kempinski Hotel, the NPA’s CEO Godwin Kudzo Tameklo will outline strategies being implemented by the authority to strengthen the downstream value chain in Ghana. Tameklo is expected to highlight ongoing efforts to attract investment in downstream projects, while sharing an update on the country’s developments such as the Integrated Petroleum Hub, LPG expansion and broader infrastructure advancements.

As the downstream regulator, the NPA manages the importation and refining of crude in Ghana as well as the sale, marketing and distribution of refined petroleum products across the country. The NPA works to position the downstream sector as both a major contributor to domestic product growth and catalyst for long-term economic growth in Ghana. By leveraging technology and growth-centered policy, the NPA has led the growth of Ghana’s downstream industry.

With increased investment, Ghana stands to play a major part in enhancing fuel security across the broader West African region

In April 2024, the country witnessed a 15.4% growth in petroleum consumption, reaching 1,641 kilotons compared to 2023, as well as a 9% rise in gasoline consumption, reaching 588.5 kilotons. In 2024, LPG consumption also witnessed a surge, rising 7.25% throughout the year to reach 340 million liters. An increase in the adoption of LPG was largely attributed to the promotion of the Cylinder Recirculation Model by the NPA – a distribution system implemented in 2023 that allows residents and commercial consumers to utilize LPG through cylinder exchange. LPG adoption rose from 28.9% in 2010 to 60% in 2023, with LPG usage increasing from 18.2% in 2010 to 44.1% in 2023. Strategic LPG projects include the Puma Energy-owned LPG bottling plant in Tema – a $6 million facility with the capacity to deliver 1,200 cylinders per hour. A second plant is being developed by the Ghana Cylinder Manufacturing Company, with a capacity of 150 million cubic feet per day.

To further strengthen distribution, the NPA is leveraging innovative technology and policies that enhance efficiency and profitability across the downstream sector. These include the introduction of a new transparent automatic price adjustment formular, transitioning from an annual regulated pricing model; a zero-tolerance policy for toxic fuel and an increase in low sulphur fuels; as well as technology-based mechanisms such as the petroleum marking scheme, bilk road vehicle tracking project, electronic cargo tracking system and enterprise relational database management software. These mechanisms support efficient monitoring and ensure optimized quality and quantity of petroleum products in Ghana.

Beyond domestic petroleum distribution, Ghana is strengthening regional exports. In 2024, the NPA signed an agreement with Senegal and The Gambia to enhance petroleum product exports. Ghana already exports petroleum to regional neighboring, including Mali, Niger, Burkina Faso, Ivory Coast and Togo. According to the NPA, the volume of petroleum exports to regional countries from Ghana amounted to 385,154,100 liters. Over 5,000 service providers are registered in Ghana, delivering over four million metric tons of petroleum products annually.

“Ghana is a strong example of the role natural gas and associated LPG production plays in Africa. Through targeted policies, technology-driven mechanisms and a commitment to low-cost, reliable fuels, the NPA is leading the charge towards a more sustainable future in West Africa. With increased investment, Ghana stands to play a major part in enhancing fuel security across the broader West African region,” stated NJ Ayuk, Executive Chairman of the African Energy Chamber.

Distributed by APO Group on behalf of African Energy Chamber

Continue Reading

Business

APO Group Revolutionises Press Release Distribution by Integrating Telegram, Boosting Mobile Accessibility Across Africa

Published

on

APO Group

APO Group is committed to ensuring that Africa’s stories are shared even more widely and in a manner that is convenient to the continent’s growing mobile population of journalists and news consumer

JOHANNESBURG, South Africa, April 7, 2025/APO Group/ –APO Group (www.APO-opa.com), the award-winning pan-African communications consultancy and press release distribution service, is pleased to announce the integration of Telegram, the popular mobile instant messaging service, into its press release distribution channels. This exciting new development, which sees the company’s press releases available on the mobile app, further cements APO Group’s position as Africa’s premier digital PR and communications firm, with unmatched reach and engagement in the online space.

With an annual dissemination rate of over 10,000 press releases to more than 250 news websites and 450,000 journalists and bloggers across the continent and globally, APO Group is committed to ensuring that Africa’s stories are shared even more widely and in a manner that is convenient to the continent’s growing mobile population of journalists and news consumers.

Telegram gives these users direct access to the press releases published on APO Group’s www.Africa-Newsroom.com platform, enabling them to instantly share relevant real-time updates and exclusive content with their target audiences. Like the web platform, Telegram subscribers can choose their preferred language channel – English, Arabic, French, or Portuguese – providing bespoke, tailored access to APO Group’s press releases in mobile format.

With close to 53 million downloads (https://apo-opa.co/3FWfLWh) in Europe, the Middle East, and Africa in 2024, Telegram has rapidly gained traction amongst the region’s users, fundamentally transforming how news is consumed. Incorporating Telegram into its already comprehensive press release distribution channels supports APO Group’s vision of delivering state-of-the-art communications solutions for Africa and the world.

“At APO Group, we’re not only committed to sharing positive and compelling narratives about the African continent; we also want to make it as easy as possible for journalists to republish our content, enhancing exposure for our clients through a channel that is widely accessible and easy to use, with an unlimited audience size. Tailored functionality ensures that information is relevant, topical, and presented in a user-friendly manner,” explained APO Group CEO Bas Wijne.

Innovation and digitalisation are key focus areas for us at APO Group when it comes to enhancing our press release distribution services

“Innovation and digitalisation are key focus areas for us at APO Group when it comes to enhancing our press release distribution services. Telegram presents us with a unique opportunity to further enrich our advanced distribution service, offering journalists a wider range of options to access and share Africa’s stories. This aligns with how the market is evolving, how users are evolving, and how the mobile market is growing.”

In addition to its comprehensive online Africa Newsroom press release distribution platform and the newly launched Telegram mobile news-sharing channel, APO Group is working to provide additional innovative mobile solutions to its clients and the African media in the near future, broadening distribution options even further.

Subscribe to APO Group’s Africa Newsroom Telegram channels using the following links:

English: https://t.me/Africa_Newsroom

French: https://t.me/Africa_Newsroom_FR

Arabic: https://t.me/Africa_Newsroom_AR

Portuguese: https://t.me/Africa_Newsroom_PT

Distributed by APO Group on behalf of APO Group

Continue Reading

Trending