Innovative Finance for Ghana’s Artisanal Mining Growth.

Tuesday 20th May 2025

By inAfrika Reporter

Ghana is gearing up to host one of its most pivotal mining gatherings yet the Mining in Motion Conference from June 2 to 4 in Accra. Among the highlights of this year’s event will be a key session focused on the future of financing for the country’s artisanal and small-scale mining (ASM) sector, a cornerstone of Ghana’s gold industry.

The panel, aptly titled “Funding Models for ASM,” will bring together an impressive roster of financial experts and industry stakeholders. Representatives from the Minerals Income Investment Fund (MIIF), BloombergNEF, the African Development Bank, AlphaStream, and StoneX are set to dive deep into practical solutions and innovative strategies that can help ASM operators access the capital they need to thrive.

ASM operations in Ghana contribute over 40% of the country’s total gold production, employ more than one million people, and generate an estimated $5 billion in gold export revenue annually. Despite this substantial economic contribution, many small-scale miners still struggle to secure financing and formal inclusion within the broader mining value chain.

In response, the Ghanaian government has taken proactive steps to address these financial barriers. One major initiative is the creation of the Gold Board, a regulatory body designed to serve as the sole exporter of ASM-produced gold. The goal is to ensure legal trade, build a transparent supply chain, and open access to formal financing and global accreditation.

Government-backed programs are also stepping in to offer real support. Initiatives like the Community Mining Scheme from the Minerals Commission and efforts by the Ghana National Association of Small-Scale Miners are already providing a mix of grants and loans. The MIIF has gone further with the launch of its Small-Scale Mining Incubation Program, offering between $200,000 and $5 million per mine to boost exploration and increase production.

Private financial institutions are also aligning with the government’s vision. Stanbic Bank, for instance, has committed $1.1 billion in funding across Ghana’s mining, metals, and energy sectors over the next five years. This includes $100 million in loans for local contractors, a $90 million expansion loan for a gold mining firm, and an $80 million environmental bond to cover six gold mines clear signs that banks are willing to bet on the sector’s potential.

Additionally, private firms like AlphaStream and StoneX are positioning themselves as financial partners across the mining value chain. Their presence as sponsors at the Mining in Motion Conference reinforces their commitment to Ghana’s long-term mining ambitions.

This year’s conference promises to spotlight both traditional and cutting-edge funding models from public-private partnerships and community-based financing to ESG-linked investment tools. The goal is not just to expand access to funding but to ensure that growth in the mining sector is inclusive, sustainable, and beneficial to all stakeholders especially those working in the often-overlooked ASM segment.

Organized by the Ashanti Green Initiative, under the leadership of Oheneba Kwaku Duah, Prince of the Ashanti Kingdom, and supported by key partners including the Ministry of Lands and Natural Resources, the World Bank, and the World Gold Council, the Mining in Motion Conference is more than just an event. It’s a platform to reimagine the future of gold mining in Ghana, starting with those who’ve been part of it the longest small-scale miners.