Stronger deal structures key to unlocking mining finance in Ghana, says Stanbic Bank

Access to finance for Ghana's small-scale mining sector could be significantly boosted by implementing stronger deal structures, increasing transparency, and enhancing governance practices, according to Benjamin Nana Kwesi Mensah, Associate for Mining & Metals at Stanbic Bank. Speaking at the West African Mining and Power Exhibition (WAMPEX) 2026 in Accra, Mensah highlighted the sector's growing importance to Ghana's gold industry, noting its contributions to job creation, local economies, and foreign exchange earnings. However, he pointed out that many operators still face challenges in securing the necessary investment to modernize and expand their operations. Mensah clarified that the financing gap is often not due to a lack of interest from banks and investors, but rather the absence of structures that offer lenders sufficient comfort and visibility. "The real issue is whether the transaction has been structured in a way that allows financiers to properly assess risk and establish confidence in the business," he explained. Financial institutions require clear proof of legal compliance, transparent revenue streams, and enforceable commercial agreements before they will commit capital. From a banking perspective, demonstrating legal ownership of mining concessions, maintaining reliable production records, and ensuring revenue traceability can greatly improve a miner's chances of securing funding. "Financiers need visibility. They need to understand where revenues are coming from, how production is tracked and whether contractual arrangements can be enforced," Mensah stated. He also emphasized the importance of strong leadership and management teams, as investors often value the quality and credibility of these groups. "Capital does not only follow assets; it also follows capable leadership," he said. Furthermore, Mensah underscored the increasing significance of environmental, social, and governance (ESG) standards in financing decisions, noting that responsible mining practices are becoming critical for both lenders and investors.

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The conversation around financing small-scale mining is sometimes framed as though there is limited appetite from banks and investors. In many cases, that is not the challenge. The real issue is whether the transaction has been structured in a way that allows financiers to properly assess risk and establish confidence in the business.