The Newmont Akyem Development Foundation (NAkDeF) disbursed GH₵8.9 million to fund 46 sustainable community development projects in the 10 host communities of the Akyem mine in 2016.
NAkDeF reported on its activities at the second Annual General Meeting (AGM) held at New Abirem, the Birim North District capital of the Eastern Region, on March 30. Stakeholders at the meeting unanimously accepted the annual report and audited financial statements of the foundation.
Of NAkDeF’s 2016 investment vehicles, 36 focused on infrastructure development, while the remaining 10 helped to fund life improvement initiatives, including the Akyem Soft Skills Improvement and Sustainability Training (ASSIST), the Education Quality Improvement Programme (EQUIP), the Community Security (Watchdog) Support and the School Feeding Programme. Each program falls under key thematic areas of education, health, water and sanitation, economic empowerment, youth and sport development, cultural heritage and security.
In his address, the Board Chairman of NAkDeF, Prof. Gyimah-Boadi, commended all of the foundation’s development partners, including traditional authorities, Birim North District Assembly and Newmont Akyem Mine, for their efforts in contributing to the sustainable development of the 10 Akyem mine host communities and in driving social and economic empowerment.
The honorable John Osei Frimpong, Member of Parliament for the Abirem Constituency and a member of the Akyem Social Responsibility Forum, also addressed stakeholders at the AGM, giving Newmont credit for its role in and commitment to improving lives and creating value in the mine’s host communities. He also made an appeal for NAkDeF to expand its scope to other communities outside the mine’s operational areas for the holistic development of the entire district.
NAkDeF was set up by Newmont Golden Ridge Limited and the 10 host communities surrounding it, as part of the social responsibility agreement signed in 2012 to respond to the needs of the communities and help advance socio-economic development. All NAkDeF projects are funded through the Akyem mine’s contributions of $1 per ounce of gold produced and 1 percent annual net profit. As at 2016, NAkDeF has accrued GH₵22.6 million from the mine to undertake sustainable community development projects.