The Ghana Chamber of Mines has launched a last-ditch effort to persuade lawmakers to reconsider a proposed increase in the Growth and Sustainability Levy, which could have far-reaching implications for the mining sector.
In a move aimed at mitigating the potential damage, the Chamber has petitioned Parliament’s Finance Committee to rethink the plan to raise the levy from 1% to 3%, as outlined in the 2025 Budget Statement.
According to Sulemana Konney, Chief Executive Officer of the Ghana Chamber of Mines, the proposed hike could jeopardize the industry’s sustainability and growth.
“We see continued engagement with the Ministry of Finance, the Minerals Commission, and our sector ministry as crucial,” Konney said in an interview with Citi FM.
“Backed by data, we aim to ensure that the legislation does not have unintended consequences on the mining industry.”
Konney emphasized the need for a balanced approach, acknowledging Ghana’s current economic challenges while cautioning against measures that could stifle the mining sector’s growth.
“At the end of the day, balance is key. While we recognize the country’s fiscal difficulties, the proposed levy increase should not compromise the industry’s long-term viability,” he noted.
Konney expressed optimism that ongoing discussions would yield a positive result. “Our discussions so far have been positive, and we believe that by carefully examining the numbers, we can reach an equitable solution that satisfies all stakeholders,” he said.
“We are encouraged by our progress but acknowledge that more work remains” he added