Gold Fields Ghana Limited has invested US$4.26 billion in local businesses over the past five years, with US$2.59 billion going to businesses in its host communities, as the mining company intensifies efforts to strengthen local enterprise development.
The company said it had consistently maintained an in-country procurement spend of 93 per cent over the period, underscoring its commitment to ensuring that more economic benefits from its mining operations remained within Ghana.
Speaking at the third Gold Fields Suppliers Conference at the Akoon Clubhouse at its Tarkwa Mine on October 28 and 29, 2026 the company’s Senior Vice-President and Managing Director, Mr Elliot Twum, said local procurement expenditure reached GH¢4.7 billion between January and June 2026.Of that amount, GH¢4.2 billion went to 124 suppliers in its host communities.
The conference, held under the theme, “Partnership for Enduring Value: Building Resilient Supply Chain Beyond Mining,” brought together more than 300 local and international suppliers to discuss business partnerships and opportunities for sustainable growth.
Mr Twum whose speech was read on his behalf said Gold Fields’ commitment to local content went beyond regulatory compliance, stressing the importance of developing strong Ghanaian enterprises capable of contributing to the wider economy.
“Our commitment to local content, however, isn’t just about compliance,” he said, adding that the company’s engagement with Ghanaian-owned businesses predated the Minerals and Mining (Local Content and Local Participation) Regulations, 2020, also known as L.I. 2431.
He cited Zen Petroleum, GASO, Genser and Western Transport Services as examples of local businesses that had contributed to the company’s operations and grown through sustained partnerships.
He, however, cautioned suppliers to maintain high standards of quality, safety, environmental responsibility and corporate governance to meet the operational and sustainability requirements of the mining industry.
Mr Twum also disclosed that more than GH¢53 million had been channelled into socioeconomic development through the Gold Fields Ghana Foundation so far this year.
Among the projects was an alternative road linking New Atuabo to the Bogoso Junction Highway, constructed by Woodbine Limited, a local contractor from New Atuabo. The road had reduced travel time from 30 minutes to 10 minutes.
He said 150 young people from the company’s host communities had received scholarships this year. Since the Foundation was established 20 years ago, more than 3,000 students had received full support for tertiary education.
Employment from host communities had reached 70 per cent, while the company had contributed more than GH¢3.5 billion to the Government of Ghana as of October 2026, he added.
For his part, the Vice-Chancellor of the University of Mines and Technology (UMaT), Professor Bernard Kumi-Boateng, urged suppliers to use their partnerships with mining companies to build resilient businesses capable of surviving beyond individual contracts and expanding into other sectors.
Addressing the conference on the topic, “Partnerships with Lasting Legacies,” he said businesses that depended heavily on one mine, customer or contract risked collapse when operations changed or the relationship ended.
“Enduring value is what a partnership leaves behind that can stand on its own. It is not the cheque,” he said.
He encouraged suppliers to pursue opportunities in energy, construction, manufacturing, agriculture and infrastructure, while strengthening their business systems, obtaining professional certifications and training younger workers.
He also urged businesses to diversify their customer base, recommending that no single customer should account for more than half of their revenue.
Professor Kumi-Boateng further called on suppliers to separate personal and business finances, invest in employees, strengthen leadership structures and adopt digital tools to improve business operations.
He said mining companies, academic institutions and suppliers needed to collaborate more closely to equip local enterprises with the skills and systems required to compete in other industries.
The two-day conference forms part of Gold Fields Ghana’s engagement with its business partners to strengthen supply-chain relationships and promote sustainable economic opportunities beyond individual mining contracts.
