MEDEAMA TO ANNOUNCE MAJOR SPONSORSHIP DEAL WITH GIANTS NGUVU MINING

We have reached an agreement with mining powerhouse Nguvu Mining as principal sponsors for the 2023-24 Ghana League season.

The full details of the contract will be announced during a scheduled press conference on Friday October 6, 2023 in Accra.

Nguvu Mining logo will be embossed on the clubโ€™s famous Mauve and Yellow shirt for the season in an improved financial relief for the CAF Champions League campaigners.

The two-time Ghana FA champions have qualified to the group stage of Africaโ€™s elite inter-club competition after a sterling heroics against Guinea giants Horoya AC โ€“ and that momentous feat was achieved for the first time of asking.

However, the club has expressed frustration at the lack of financial support after mining giants Goldfields opted against supporting the team for the Africa campaign โ€“ citing financial constraints.

Nguvu Mining will now be the principal sponsor for the club in the 2023-24 season with details expected to be announced to the media on Friday.

About our new partners

Nguvu Mining was started by Angela List, a Ghanaian having over 20 years of experience in the mining industry, mainly in mining services.

The first acquisition of an operating mine was Adamus Resources Limited in Ghana, from Endeavour mining in the last quarter of 2016.

In 2018, Nguvu acquired Segala Mining SA in Mali, also from Endeavour mining.

In 2019, the group acquired 80% of Samira Hill SA, a mine in Niger, formerly owned by Semafo Inc, from the government of Niger.

This was followed by the acquisition of Northern Ashanti Mines Co. Ltd., formerly Owere mines, in Ghana.

The group also has an advanced mine in Burkina Faso, acquired from Newmont, and expects that to go into production by the end of 2023.

Other assets in the group include exploration licenses in Cote dโ€™Ivoire and Liberia.

Nguvu currently recovers, produces and sells around 250,000 Oz of gold on an annual basis. This production is expected to grow further from current operations and new developments.

Nguvu currently employs around 3,000 people. 90% of its workforce is locally employed and so is 60% of its management.

Source:Medeama SC

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