As the Ghanaian-owned Engineers & Planners Limited gears to take over the operations of the Damang Mine, the Ghana Mine Workers Union has thrown its weight behind the local participation in Ghana’s mining industry, but not without caution.
The Union says this local takeover must be accompanied by clear and appropriate corporate governance principles to ensure success. For the union, local ownership alone is enough if the company will be run by what it describes as a “one-man show”.
Speaking on the development, General Secretary Abdul-Moomin Gbana welcomed the move toward increased local participation in Ghana’s mining sector, describing it as a step in the right direction. However, he cautioned that without strong corporate structures, the transition could repeat familiar mistakes that have plagued many local enterprises.
“For far too long, we have failed to govern ourselves properly,” he stressed, pointing to a recurring weakness in Ghanaian businesses, particularly in the extractive sector, where decision-making is often concentrated in the hands of a single individual.
Beyond Ownership: The Governance Test
The Union’s concern is what Gbana describes as the “one-man show” syndrome, an approach where companies are run informally, with little regard for structured decision-making, accountability, or transparency.
Such models, he warned, may survive in the short term but rarely deliver long-term value or broad-based benefits.
He cautions that enterprises without proper governance frameworks often fail to translate profits into sustainable development, worker welfare, and national economic gains.
“If you talk about most of the enterprises that operate in the Ghanaian economy and also in the mining industry, local businesses, unfortunately, when it comes to corporate governance, haven’t done too well. It’s often been reduced to a one-man show. And one-man show businesses don’t last. Even if they last, it doesn’t benefit the greater good of the people,” he noted.
A Defining Moment for Local Participation
The Damang Mine takeover is being closely watched as a test case for Ghana’s broader push to deepen indigenous ownership in the mining industry. While the Union strongly supports this direction, it insists that local ownership must go hand-in-hand with global best practices.
With this call, Abdul Moomin Gbana is emphasising the need for clearly defined corporate structures, functional and independent boards, transparent financial systems, and strong accountability mechanisms.
Without these, he warned, even well-intentioned local participation could fall short of expectations.
“Local participation is good. We encourage it. In the Damang Mine situation, if there’s going to be local participation, we welcome it. But our core is to ensure that they do things right. The right systems must be in place. The right corporate governance structures must be in place, the General Secretary said in an interview.
The Bottomline
The Union’s position is that local companies must not just take over assets; they must be able to transform how those assets are managed.
“If it’s a limited liability company, then it must operate as one,” Gbana asserted, underscoring the importance of institutional discipline over individual control.
For the union, the real measure of success of the local participation will lie in its ability to build a resilient, well-governed enterprise that benefits workers, communities, and the broader economy.
In a sector that has long been dominated by multinational giants, this transition represents a rare opportunity for local entrepreneurs and businesses.
