Chamber of Mines petitions Parliament over Growth and Sustainability Levy hike

The Ghana Chamber of Mines has formally petitioned Parliament’s Finance Committee to reconsider the proposed increase in the Growth and Sustainability Levy from 1% to 3% as outlined in the 2025 Budget Statement.

The Chamber argues that the sharp hike could have significant implications for the mining sector’s growth and viability.

As part of its advocacy efforts, the Chamber has engaged Finance Minister Dr. Cassiel Ato Forson and members of the Finance Committee to present its concerns.

Speaking to Citi Business News, Chief Executive Officer of the Ghana Chamber of Mines, Sulemana Konney, expressed optimism that ongoing discussions would yield a balanced outcome that mitigates potential negative effects on the industry.

“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.”

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 sustainability and 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. We are encouraged by our progress but acknowledge that more work remains,” he noted.

The Chamber is optimistic that its concerns will be addressed in the Mid-Year Budget Review.

“The mid-year budget review provides an opportunity to recalibrate fiscal policies based on insights from budget implementation. We expect that our discussions with the Ministry of Finance, Minerals Commission, and our sector ministry will be reflected in the review,” Konney added.