Kwame Appau. INSET: Some of the participants
Gold Fields Ghana Limited has invested $4.26 billion in local procurement, including $2.59 billion spent with businesses in its host communities over the past five years.
According to the gold mining company, the $4.26 billion forms about 93 per cent of its procurement spending.
Gold Fields has also engaged and supported nearly 100 suppliers within its host communities to ensure that the economic value generated by the company’s operations is retained locally.
This came to light at the official opening of the 3rd Gold Fields Ghana Suppliers Conference held in Tarkwa in the Western Region.
The two-day conference brought together over 300 local and international suppliers. The participants discussed among others new opportunities and how to promote sustainable economic development beyond the mining sector.
The conference was held under the theme: “Partnership for Enduring Value: Building a Resilient Supply Chain Beyond Mining.”
Mining Manager of Gold Fields, Kwame Appau, disclosed that from January to June this year, the company’s in-country procurement reached GH¢4.7 billion, with GH¢4.2 billion directed specifically towards 124 host community suppliers.
Mr. Appau was speaking on behalf of Elliot Twum, Senior Vice President and Managing Director of Gold Fields Ghana Limited.
He said, “Our impact goes beyond just procurement figures. So far this year, we have directed over GH¢53 million towards socio-economic development through the Gold Fields Ghana Foundation.”
He revealed that the investment went into the construction of an alternative road from New Atuabo to Bogoso Junction Highway, which will be handed over next month.
“This multi-million cedi project was carried out by Woodbine Limited, a local contractor from the New Atuabo community.
“We are here today because we recognise that the true measure of partnership is sustainable value.
“By strengthening the relationships we share, we are creating enduring value beyond mining,” he pointed out.
The Supply Chain Manager of Gold Fields, Joshua Donkor, noted that the company wants to support local suppliers.
“We are proud that a partner like Zen Petroleum, a wholly Ghanaian-owned company, is now listed on the Ghana Stock Exchange,” he stated.
Deputy CEO of Minerals Commission in charge of Support Services, Emmanuel Kwamena Anyimah, revealed that there is a bill before Parliament that will give local content real weight.
“It will establish District Mining Committees as the first point of licensing and create a medium-scale category for Ghanaian entrepreneurs,” he added.
From Emmanuel Opoku, Tarkwa