Gold Fields Invests $4.26bn In Local Procurement
Kwame Appau. INSET: Some of the participants Gold Fields Ghana Limited has invested $4.26 billion in local procurement, including $2.59 billion spent with businesses in its host communities over Read More... The post Gold Fields Invests $4.26bn In Local Procurement appeared first on DailyGuide Network .
Gold Fields Ghana Limited has invested a substantial $4.26 billion into local procurement, with $2.59 billion spent within its host communities over the past five years. This investment constitutes approximately 93% of the company's procurement spending. To ensure economic value remains local, Gold Fields has engaged and supported around 100 suppliers within its host communities.
The company's commitment to local suppliers was highlighted at the 3rd Gold Fields Ghana Suppliers Conference in Tarkwa, Western Region. During the conference, over 300 local and international suppliers discussed opportunities to promote sustainable economic development beyond the mining sector. Gold Fields' Mining Manager, Kwame Appau, announced that from January to June, in-country procurement reached GH¢4.7 billion, with GH¢4.2 billion directed to 124 host community suppliers.
The company's investment also includes the construction of a new road, completed by a local contractor from New Atuabo. Emmanuel Kwamena Anyimah, Deputy CEO of Minerals Commission, revealed a bill before Parliament that would give local content real weight, establishing District Mining Committees and creating a medium-scale category for Ghanaian entrepreneurs.
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