The planetGOLD Ghana Project, through the Environmental Protection Authority (EPA), has organised a two-day training workshop on financial inclusion and responsible supply chains within Ghana’s Artisanal and Small-scale Gold Mining (ASGM) sector.
The training, which was also in collaboration with UNDP and UNIDO, was aimed at providing a platform to strengthen miners’ financial literacy while enabling financial institutions to gain a deeper appreciation of the specific needs of the ASGM value chain.
Mrs. Jewel Kudjawu, Director, Inter-Sectorial Network, EPA, underscored the strategic role of financial institutions in advancing Ghana’s ASGM sector.
She said the initiative not only equipped artisanal miners with the skills required to engage effectively with banks but also enabled financial institutions to better appreciate the sector.
“Together, we can design sustainable financial solutions that promote formalization and strengthen responsible supply chains,” she stated.
She said Ghana’s ASGM sector contributed an estimated 30–40 percent of national gold output and directly employed about one million people, with another four to five million indirectly dependent on it.
“Despite its importance, around 80 percent of operations remain informal, restricting access to finance and responsible market opportunities, while mercury use continues to endanger both health and the environment.”
Dr. Frank Boateng, a Mining Finance Expert, University of Mines and Technology, said the training would highlight sustainable mining practices, with strong emphasis on environmental, social, and governance (ESG) standards as essential requirements for sustaining operations and attracting investment.
He said the training would also focus on the sector’s risk profile and the potential to design tailored financial and insurance products that address the unique needs of artisanal and small-scale gold miners.
“Participants will examine opportunities to promote responsible mining through financing mechanisms that support the adoption of mercury-free gold mining technologies.”
Some participants expressed satisfaction with the knowledge acquired, noting its importance in positioning them to access formal financial services.
Ms. Amanda McSamuel, Head of SME Business at Enterprise Insurance, said the engagement had underscored the importance of building trust and creating mutually beneficial solutions.
“There is significant potential to develop insurance products that meet the needs of the ASGM sector.”
Mr. Richard Osei of Okutey Mine in the Prestea Huni Valley District, said, “I am excited about this training. I now understand the requirements and processes needed to secure financing and investment from banks and insurance entities. I feel empowered to approach them for support.”
The planetGOLD Ghana Project, funded by the Global Environment Facility (GEF) and implemented by the Environmental Protection Authority, seeks to tackle mining challenges by promoting mercury-free technologies, improving access to finance, and strengthening responsible supply chains.
The training workshop forms part of broader efforts to formalize the sector, safeguard the environment, and improve the livelihoods of mining communities across the country.