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In many gold-rich communities across Ghana, artisanal and small-scale miners begin each day with determination, yet they encounter significant challenges that keep their work informal, hazardous, and financially unsupported. Despite driving local economies, they often lack access to formal banking systems and depend on mercury to extract gold, posing risks to their health and the environment. Today, a bold new initiative the planetGOLD Ghana Project is working to change this narrative by empowering miners and financial institutions with the resources to create safer, greener, and more inclusive livelihoods.
Globally, more than 100 million people rely on artisanal and small-scale mining (ASM) for their livelihoods, according to the International Labour Organization. The World Bank further estimates that around 45 million individuals are directly employed in the sector, highlighting its significant contribution to global employment and poverty alleviation. In Ghana, the ASGM sector accounts for approximately 30 to 40 percent of the country’s total gold production and provides direct employment to about one million people, supporting an additional 4 to 4.5 million dependents. Despite its economic importance, nearly 80 percent of ASGM operations in Ghana remain informal or unlicensed, limiting access to credit and formal financial services and exposing the sector to environmental degradation, income instability, and vulnerability to illicit trade.
“This training equips artisanal miners to understand finance, manage risks, and strengthen their operations. It also opens space for honest dialogue with banks, building trust, encouraging tailored financial solutions, and supporting a more resilient ASGM sector,” said Jewel Kudjawu, the Director, Intersectoral Network, EPA/PMU
Jewel Kudjawu, the Director, Intersectoral Network, EPA/PMU
To help address these gaps, the Environmental Protection Agency (EPA), on behalf of the Government of Ghana, in partnership with UNDP Ghana and with funding from the Global Environment Facility (GEF), organized a two-day training workshop designed to empower both miners and financial institutions. The first day focused on artisanal and small-scale gold miners, building their capacity in financial literacy, business planning, risk management, and responsible procurement. Miners were also introduced to sustainable mining practices and Environmental, Social, and Governance (ESG) standards, which are critical to creating responsible and traceable gold supply chains.
"I’m really happy about this training. It has opened my eyes to the documentation and processes we need to follow to access finance from banks. Now, I understand what financial institutions look for, and I feel more confident to approach them to support my operations." - Richard Osei, Small Scale Miner, Okutey Mines.
Richard Osei, Small Scale Miner, Okutey Mines
The second day focused on financial institutions. The training guided participants through the structure of Ghana’s ASGM value chain, helped demystify the real versus perceived risks associated with lending to the sector, and introduced pathways for developing inclusive and innovative financial products tailored to the needs of small-scale miners. For many financial institutions, the session marked a shift in perspective, presenting ASGM not just as a risk, but as a viable and responsible investment opportunity.
"It’s been a great learning experience, and I now see tremendous potential for insurance companies to develop products tailored to the needs of artisanal and small-scale miners. There’s a clear opportunity to bridge the gap and support their growth through inclusive financial solutions." Amanda McSamuel, Head SME Business Enterprise Insurance.
Amanda McSamuel, Head SME Business Enterprise Insurance
This training marks more than just knowledge sharing, it is a critical step in Ghana’s journey towards promoting mercury-free, financially inclusive, and environmentally sustainable mining. With support from the planetGOLD Ghana Project, UNDP together with UNIDO is working to reduce mercury use and enhance miner incomes in the artisanal and small-scale gold mining (ASGM) sector. This is achieved through integrated formalization approaches, improved access to legitimate financing for miners, and the promotion of mercury-free technologies, ultimately fostering the development of responsible gold supply chains in Ghana. The way forward includes piloting innovative financial tools, scaling up access to cleaner technologies to build a future where responsible gold production benefits people, planet, and prosperity.
