Investing in the Future at Ahafo

The scholarship award is presented to Kadijatu Ibrahim.

The Newmont Ahafo Development Foundation (NADeF), along with Alexiboam Company Limited, has awarded its first-ever scholarships to two high school students in the Asutifi North District in Ghana.

More than 11 students applied for the scholarships, worth about US$6,000. The winners were chosen based on outstanding academic performance and need. Mad Kadijatu Liman Ibrahim, a science student at St Louis Senior High School, and Master Emannuel Oteng, an art student at Hwidiem Senior High School, will receive this award that extends for the duration of their senior high school education. This scholarship will help cover tuition costs for their continuing education.

This is the first scholarship of its kind from NADeF and Alexiboam Company Limited, which is owned by CEO Alexander Boampong, a former beneficiary of the Newmont Ahafo Linkages Program (ALP). The ALP, which ran from 2007 to 2010, increased the competitiveness of around 90 micro, small and medium enterprises in communities near the mine. Alex credits ALP with helping him develop the management skills and practices needed to support his growing business, which provides construction services to Ahafo and other local enterprises.

NADeF was established in 2008 to support sustainable development in the 10 communities surrounding Ahafo, and was recently awarded the best social impact investment vehicle in sub-saharan Africa by the European Union’s EU-Africa Chamber of Commerce. Newmont contributes a dollar per ounce of its annual gold production and one percent net profit each year to the Foundation, which supports a wide range of community development programs. Newmont’s total contribution to date is about US$21 million, with a portion of that amount earmarked for an endowment fund to ensure funding beyond the life of the mine.


There are no comments. Be the first to comment.

Post a Comment

Your email address will not be published. Required fields are marked *