Mining Industry to boost Local Businesses in Ghana

To ensure that mining companies in the country increase their local procurement system, the International Finance Corporation (IFC), a member of the World Bank Group, the Ghana Chamber of Mines, and the Minerals Commission have signed a Memorandum of Understanding (MOU), to support the growth of local businesses working in Ghana’s mining industry.

The collaboration will design and implement a local supplier development programme to build the expertise of local businesses working in the mining industry’s supply chains, and promote Ghana as a leading African destination for mining investment.

The agreement was signed at a World Bank workshop held in Accra to discuss a study on increasing local procurement by the mining industry in West Africa.

The workshop brought together policy makers, the private sector, and civil society.

Joyce Aryee, CEO of the Ghana Chamber of Mines, said “Mining firms operating in the country are committed to supporting the development of a programme to improve the capacity of local manufacturers of products and providers of services to create competitive Ghanaian suppliers.”

She added that “Ghana has a large, well-established mining sector which provides jobs, government revenues, and has significant opportunities for local businesses to become suppliers to the mining firms.”

She reaffirmed the Chamber’s commitment towards the initiative, noting that it would go a long way to help sustain and support Ghanaian businesses.

Mary-Jean Moyo, IFC Country Manager for Ghana, said, “Spreading the benefits in the oil, gas and mining sector is an important priority for IFC in Ghana.”

She emphasised that “together with the Chamber of Mines and the Minerals Commission, we are supporting the development of local businesses through training programmes that meet the needs of the mining sector in a sustainable way.”

IFC’s Sustainable Business Advisory works with firms and sectors to develop inclusive, environmentally sustainable and efficient markets.

Building on IFC’s environmental and social performance standards, it promotes sustainable business practices in mining as well as in other sectors such as agribusiness, infrastructure, oil, gas, manufacturing and services.

Source: Daily Guide