Last week, Newmont Ghana’s Ahafo Development Foundation (NADeF) was recognized as the best social impact investment vehicle in Africa by the European Union’s African Chamber of Commerce.
Joseph Danso (middle), NADeF Executive Secretary, receiving the award. On his right is the Board Chairman of NADeF, Kwame Saraah Mensah.
The award recognizes the contribution NADeF has made towards improving lives and supporting sustainable socio-economic development in the communities neighboring the Ahafo mine. The award was announced at the EU-Africa Chamber of Commerce’s first annual Corporate Social Responsibility (CSR) in Africa awards ceremony in Brussels, Belgium.
Newmont Ghana established NADeF in 2008 as a community-led foundation with a mission to drive economic and social development in the 10 communities near the Ahafo mine. The company contributes one dollar per ounce of its annual gold production and one percent of net profit each year to support various development initiatives in the Brong-Ahafo region.
More than 40 companies in Sub-Saharan Africa applied for the award out of which eight were nominated to receive five awards in Sustainable Economy, Social Impact, Environment/ EUACC-Be Inspired and EUACC-Promising Project.
The EU-Africa Chamber of Commerce works to support CSR best practices in Sub-Saharan Africa to help promote inclusiveness and sustainability in the region. The Chamber showcases CSR initiatives as a tool to enhance performance and competitiveness, while encouraging shared value.