Engineers & Planners (E&P), a prominent Ghanaian infrastructure and natural resources firm, has finalized its $100 million acquisition of Azumah Resources Ghana Ltd, securing full ownership of the strategically vital Black Volta and Sankofa gold concessions in Ghana’s Upper West Region.
The transaction, concluded through two international wire transfers via the ECOWAS Bank for Investment and Development (EBID) in Lomé, Togo, saw E&P disburse $8.07 million to London-based CANGOL PTE Ltd and $91.92 million to Singapore-headquartered IGIC PTE Ltd, former shareholders tied to Australia’s Azumah Resources Limited.
This payment resolves longstanding legal and regulatory disputes over concession control, granting E&P complete operational and equity authority over the assets.
At a stakeholder briefing in Accra on October 17, Noel Nii Addo, Director of Azumah Resources Ghana, confirmed that E&P officially assumed control on September 5, 2025, in line with the shareholders’ agreement, with Mr. Ibrahim Mahama, beneficial owner of both E&P and Azumah, now holding 100% equity through E&P.
The shift to wholly Ghanaian ownership is expected to expedite project development, enhance community relations, and align operations with national mining priorities, reflecting a broader trend of local firms reclaiming strategic mineral assets.
Engineers & Planners is set to unveil a detailed plan for sustainable exploration, environmental compliance, and community engagement at the concessions in the coming weeks.
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