Newmont completes GH₵ 95m Hwidiem–Kenyasi road; commits $34m to boost Ahafo South infrastructure

Mining giant Newmont has reaffirmed its commitment to community development with major investments in road infrastructure, including the completed 8.2-kilometre asphalt road between Hwidiem and Kenyasi and a newly announced $34 million package to upgrade roads in the Ahafo South mine area between 2025 and 2028.

In line with its broader sustainability and development agenda, Newmont has completed the construction of an 8.2km asphalt road connecting Hwidiem to Kenyasi at a cost of GH₵ 95.4 million.

This vital route provides improved access to services and trade across the region, linking Kenyasi to major towns including Acherensua, Tepa, Bechem, and Kumasi.

The company is also launching a major infrastructure initiative that will see an additional $34 million invested from 2025 to 2028 in the surrounding communities of its Ahafo South mine.

The project will cover:

• Rehabilitation of internal roads in Ntotroso, Wamahinso, and Gyedu

• Construction of the Ntotroso–Kenyasi road

• Partnership with government authorities to improve the 40+ kilometre Sunyani–Acherensua stretch, which currently suffers from poor road conditions and growing safety risks

Newmont emphasized that all projects are being executed by local contractors, providing employment opportunities and ensuring that development remains community-driven.

“These investments are part of our long-term vision to create lasting value and improve lives in our host communities,” a Newmont spokesperson stated.

The road initiatives align with Newmont’s sustainability pillars, reinforcing its role not just as a mining company, but as a key development partner in the Ahafo Region.

Comments

Fitch Solutions retains 2025 growth rate projection at 4.2%

Fitch Solutions has reaffirmed its projection that Ghana’s economy will expand by 4.2% in 2025. This estimate slightly exceeds the International Monetary Fund’s forecast of 4% and the World Bank’s projection of 3.9%. The UK-based research firm attributes its outlook to historically high gold prices, which are expected to cushion the Ghanaian economy against a global slowdown triggered by rising tariffs. Higher gold prices are anticipated to strengthen government revenue, enhance foreign exchange earnings, and help sustain currency stability. The report also highlights that Ghana is relatively less vulnerable to increasing trade restrictions from the United States, given that its primary exports—gold and crude oil—are not directly affected by the tariffs introduced by President Trump’s administration. Moreover, the US constitutes only about 4% to 5% of Ghana’s total exports. In contrast, Ghana’s trade relations are more heavily oriented toward China and European countries, particul...

BoG injects $20m into FX market to support 11 BDCs

The Bank of Ghana (BoG) has injected $20 million into the foreign exchange market in the latest round of its forward FX auction targeted at Bulk Oil Distribution Companies (BDCs). The intervention, which benefited eleven BDCs, is part of the central bank’s broader strategy to stabilise the cedi and ensure price stability in the petroleum downstream sector. Held on Tuesday, April 29, the auction was priced at a locked exchange rate of GHS 14.28 to the US dollar, with bid offers ranging from GHS 13.85 to GHS 15.55. This move reflects the BoG’s continued effort to deepen forex liquidity and safeguard the domestic fuel supply chain against volatility in global energy markets. By directly supplying FX to BDCs, the central bank seeks to ease pressure on the interbank market, guarantee the uninterrupted flow of petroleum products, and mitigate the pass-through effects of exchange rate fluctuations on fuel prices. The $20 million disbursement forms part of a $120 million programme for th...

Kenpong Travel & Tours Champions Breast Cancer Awareness During Customer Week

As part of activities to mark Customer Week, Kenpong Travel & Tours, a leading travel agency in Ghana, is joining the global fight against breast cancer. October is Breast Cancer Awareness Month, and the company is passionate about spreading hope and support to those affected. At Kenpong Travel & Tours, we believe that travel and exploration can be therapeutic and empowering. That's why we're committed to supporting our customers and the broader community in the fight against breast cancer. We're proud to stand in solidarity with breast cancer warriors and survivors. At Kenpong Travel & Tours, we believe that everyone deserves a chance to explore the world and create unforgettable memories. Let's prioritize health, support one another, and fight against breast cancer," said Kennedy Agyapong, CEO of Kenpong Travel & Tours. Our efforts are focused on raising awareness, promoting early detection, and supporting those affected by breast cancer. We urg...

Kofi Ahovi

Search This Blog