The Ghana Chamber of Mines is intensifying efforts to oppose the proposed increase in the Growth and Sustainability Levy, warning that the move could negatively impact the mining sector’s viability.
Under the 2025 Budget Statement, the government plans to raise the levy from 1% to 3%, a decision that has sparked concern among industry stakeholders.
In response, the Chamber has petitioned Parliament’s Finance Committee, urging policymakers to reconsider the sharp increase. The industry body argues that such a hike could hinder growth, discourage investment, and threaten the sustainability of mining operations.
During discussions with Finance Minister Dr. Cassiel Ato Forson and members of the Finance Committee, the Chamber presented data-driven arguments to highlight the potential risks associated with the tax increase.
Sulemana Konney, CEO of the Ghana Chamber of Mines, stressed the importance of a balanced approach that acknowledges Ghana’s economic challenges without jeopardizing the mining industry’s long-term growth.
“We are committed to working with the Ministry of Finance, Minerals Commission, and our sector ministry to ensure that fiscal policies do not have unintended consequences on mining operations,” Konney said.
He added that while the industry recognizes the government’s need to generate revenue, any policy shifts must preserve the sector’s competitiveness.
The Chamber is hopeful that its concerns will be addressed during the Mid-Year Budget Review, which provides an opportunity to adjust fiscal policies based on real-time economic conditions.
“We believe that ongoing engagement will lead to a fair and equitable outcome that satisfies both the government’s revenue objectives and the industry’s need for sustainability,” Konney noted.
As discussions continue, the mining sector remains cautiously optimistic that policymakers will take its concerns into account, ensuring that fiscal measures do not stifle investment or growth in one of Ghana’s key economic sectors.
