Sammy Gyamfi, the Chief Executive Officer of GoldBod, has revealed that the Damang Gold Mine, owned by businessman Ibrahim Mahama, has sold 100 per cent of its first gold output to GoldBod and the Bank of Ghana.
The GoldBod CEO announced that the sale is to support Ghana’s national reserves.
According to Sammy Gyamfi, the development makes a major milestone for Ghana.
Speaking to the media, Sammy Gyamfi stated, “This is a major milestone for Ghana”.
“The Damang Gold Mine has sold 100 per cent of its first gold output to GoldBod and the Bank of Ghana to support our national reserves.”
“What we are witnessing is a strong alignment between private sector participation and national economic priorities,” he said.
The GoldBod CEO disclosed that the move reinforces the government’s strategy of leveraging gold resources to shore up the economy.
“This has never happened in the history of Ghana, where a private gold mining company commits all of its initial production to state-backed institutions for reserve accumulation,” he stressed.
Meanwhile, Carlos Ahenkorah, the former Deputy Minister of Trade and former Member of Parliament for Tema West, has said Ibrahim Mahama’s takeover of the Damang Mine is well deserved.
According to Carlos Ahenkorah, Ibrahim Mahama’s experience in the mining and heavy equipment sector dates back several decades.
He, however, warned that the persistent harassment of indigenous Ghanaian businesses undermines Ghana’s economic growth.
Speaking on Ade Akye Abia on Okay FM on April 20, 2026, Carlos Ahenkorah explained, As far back as 1992, he was among the first people I knew importing heavy-duty trucks for mining operations”.
“It is well deserved. Granted, he has political links to the president, but the acquisition was done by a company. It will create jobs, so why won’t we encourage such?” he questioned.
He urged, “It doesn’t help the country and its economy. Let’s encourage local investments”.
The former NPP MP also recounted Bryan Acheampong’s attempt to partner with the Social Security and National Insurance Trust (SSNIT) in managing a state-owned hotel under the erstwhile Akufo-Addo administration.
He added, “Up till now, the SSNIT hotels are still there deteriorating. Let’s stop tearing down our own business moguls and rather project them to strengthen our economy,” he added.
Also, the Chief Executive Officer of Engineers and Planners and business mogul Ibrahim Mahama have thanked former President Nana Addo Dankwa Akufo-Addo for his role in the acquisition of the Damang Mine concession, punching holes in the NPP’s propaganda alleging state capture.
Ibrahim Mahama, speaking at the official takeover ceremony on April 18, 2026, recounted the long process that led to the transition of the mine from Gold Fields Ghana Limited to Engineers and Planners.
He disclosed that the moves follow years of discussions involving multiple stakeholders, including the government, which explained that the process began in 2022 when Gold Fields indicated plans to gradually end its operations.
Ibrahim Mahama revealed that former President Akufo-Addo played a key part in supporting the engagement process.
Speaking at the official takeover ceremony on April 18, 2026, Ibrahim Mahama recounted, “I must thank our former President Nana Akufo-Addo. He gave me a document to sit with Gold Fields and negotiate and keep the mine [Damang] going”.
“So, I engaged the government and told them that mining is not just buying equipment and working in there. It is the key people that you need to put together,” he stated.
“We did a bankable study. We looked at it and noticed that we could do it. We approached a few of the banks in here. One has given us 650 million, another 600 million,” he noted.