Accra, Ghana, September 21, 2011 – IFC,
a member of the World Bank Group, today signed an agreement with public
and private sector partners in Ghana to support the growth of businesses
working in Ghana’s mining industry, a major contributor to jobs and economic
development in the country.
The collaboration between IFC, Ghana’s Chamber of Mines, and the Ghanaian
government’s Minerals Commission will design and implement a local supplier
development program 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.
Joyce Aryee, CEO of the Ghana Chamber of Mines, said, “Mining firms operating
in Ghana are committed to supporting the development of a program to improve
the capacity of local manufacturers of products and providers of services
to create competitive Ghanaian suppliers. 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.”
The new program builds on the IFC-Newmont Ahafo Linkages Program, which
supported job creation and growth in local businesses surrounding Newmont’s
Ahafo gold mine in Ghana. The three-year program, which closed in 2010,
trained 53 local enterprises, and created local procurement worth roughly
$14 million. It was recognized by the World Business Council on Sustainable
Development and the Chartered Institute of Purchasing and Supply as a top
SME linkages project.
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.
Together with the Chamber of Mines and the Minerals Commission, we are
supporting the development of local businesses through training programs
that meet the needs of mining sector firms in a sustainable way.”
The agreement was signed at a World Bank workshop 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
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.
IFC, a member of the World Bank Group, is the largest global development
institution focused exclusively on the private sector. We help developing
countries achieve sustainable growth by financing investment, providing
advisory services to businesses and governments, and mobilizing capital
in the international financial markets. In fiscal 2011, amid economic uncertainty
across the globe, we helped our clients create jobs, strengthen environmental
performance, and contribute to their local communities—all while driving
our investments to an all-time high of nearly $19 billion. For more information,