Vice President of IMANI Africa, Bright Simons, has raised serious concerns about the transparency and governance practices of the ECOWAS Bank for Investment and Development (EBID) following its involvement in the financing of the Black Volta Gold Project.
His comments come in the wake of a $100 million Acquisition Facility Agreement signed on July 7 between EBID and Engineers & Planners (E&P).
The deal was celebrated as a landmark moment intended to support the establishment of Ghana's first large-scale, wholly indigenous gold mining operation.
However, the agreement has been cast into doubt after Azumah Resources Ghana Limited - the company associated with the Black Volta Mine - issued a strong denial of E&P's involvement.
