Mid-Year Budget: Mining companies want Growth and Sustainability Levy reduced to 1%

The Ghana Chamber of Mines has called on the government to reconsider the increase in the growth and sustainability level from 1% to 3% ahead of the upcoming mid-year budget review.

According to the Chamber, the current rate presents a major challenge for some mining companies, particularly smaller operators that do not generate as much revenue as their larger counterparts.

This disparity makes it difficult for them to meet the 3% levy requirement.

Speaking at a recent press briefing in Accra on Tuesday, July 22, 2025, the Chief Executive Officer of the Chamber, Dr. Kenneth Ashigbey stressed that reducing the levy would bring greater stability to the mining sector and serve as an incentive for further investment.

“There have been conversations about the Growth and Sustainability Levy. Our hope is that, it would be reduced in the mid-year budget. The macro-economy is pointing to the right direction. The strength of the Cedi currently is predominantly based on gold,” he said.

“Last year, through the domestic gold purchase program, we sold 358,218 ounces (ca. 13,540 kg) of gold to the Bank of Ghana. In addition, we continue to support the bank through the Voluntary Forex and Gold Purchase Initiative, which has helped boost the country’s reserves and strengthen the Cedi.”

Dr. Ashigbey emphasised the importance of recognising the mining sector’s contribution to the economy and urged policymakers to consider its sustainability in future decisions.