{
  "id": 18266613,
  "title": "Banks hold back on mining loans • Illegal operations, weak safeguards blamed",
  "url": "https://urgent.news/2026/11/05/banks-hold-back-on-mining-loans-illegal-operations-weak-safeguards",
  "topic": "world",
  "section": "World",
  "published": "2026-11-05T06:17:37.000Z",
  "source": {
    "name": "Ghanaian Times",
    "slug": "ghanaian-times",
    "url": "https://ghanaiantimes.com.gh/banks-hold-back-on-mining-loans-illegal-operations-weak-safeguards-blamed/"
  },
  "original_language": "en",
  "account": "The Ghana Association of Banks (GAB) has expressed reluctance among financial institutions to provide loans for Ghana's small-scale mining sector due to worries that funds might be used for illegal mining, environmental degradation, and reputational damage. Although banks are looking into ways to funnel resources into legitimate mining activities, concerns over illegal mining and insufficient safeguards continue to hinder lending to this sector. Mr. Lawrence Sackey, a representative of the GAB, stated that banks are willing to back responsible small-scale miners but require stronger regulatory measures, clear gold trading systems, and robust monitoring mechanisms to safeguard their investments. This sentiment was shared during a Ghana-Malawi South-South Learning Exchange on Mining Governance and Mineral Sector Development held in Accra, where representatives from Ghana and Malawi discussed strategies to enhance mining governance and boost their mineral industries. Traditionally, banks have favored lending to large-scale mining firms owing to their superior financial standing and established regulatory frameworks.",
  "summary": "THE Ghana Association of Banks (GAB) said banks are holding back on financing Ghana’s small-scale mining sector over fears that their funds could end up supporting illegal mining, environmental destruction and activities that could damage their reputations. The GAB said although financial institutions are exploring ways to channel funds into legitimate small-scale mining operations, concerns ……",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}