Chamber of Mines Petitions Parliament to Reconsider Growth and Sustainability Levy Increase

Accra, Ghana - 21 March, 2025 - Ghana's mining industry is bracing itself for a significant tax increase, as the government considers raising the Growth and Sustainability Levy from 1% to 3%.

The Ghana Chamber of Mines has formally petitioned Parliament's Finance Committee to reconsider the proposed hike, warning that it could have far-reaching implications for the sector's growth and viability.

The Chamber's concerns are rooted in the potential for the tax increase to stifle the industry's sustainability and growth. With Ghana's economy already facing significant challenges, the mining sector is urging the government to adopt a balanced approach that takes into account the industry's unique needs and challenges.

“At the end of the day, balance is key. We recognize the country's fiscal difficulties, but the proposed levy increase should not compromise the industry's long-term viability.  We are encouraged by our progress but acknowledge that more work remains,'' said Sulemana Konney, Chief Executive Officer of the Ghana Chamber of Mines in an interview with Citi Business News.

According to Konney, the Chamber has engaged in discussions with Finance Minister Dr. Cassiel Ato Forson and members of the Finance Committee, and is optimistic that its concerns will be addressed in the Mid-Year Budget Review. 

“We see continued engagement with the Ministry of Finance, the Minerals Commission, and our sector ministry as crucial,” Konney stated. “Backed by data, we aim to ensure that the legislation does not have unintended consequences on the mining industry. 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.”

The review provides an opportunity for the government to recalibrate its fiscal policies based on insights from budget implementation.

Source: Lead News Online