Vish Ashiagbor, Country Senior Partner at PwC Ghana
The Country Senior Partner at PwC Ghana, Vish Ashiagbor, has emphasised the need for continuous dialogue between the government and mining firms regarding the recent increase in the Growth and Sustainability Levy from 1% to 3%.
Recently, the Minister of Finance, Dr Cassiel Ato Forson announced the government’s plan to increase the Growth and Sustainability Levy to 3 percent in parliament on March 11, 2025, and will be extended until 2028.
However, some industry leaders have claimed that they received short notice and no meaningful consultation prior to the topic.
Speaking at PwC’s 2025 Budget Digest Forum in Accra on March 18, 2025, Ashiagbor acknowledged the concerns raised by the mining industry while also recognising the government’s fiscal challenges.
He said mining companies have argued that their investment decisions are based on long-term planning.
Therefore, unexpected policy changes, such as the increase in the Growth and Sustainability Levy, could disrupt their financial projections and profitability.
“The argument that those in the mining sector are making is that they make their plans or their investments based on a long-term plan. So, when you suddenly impose or increase the levy and extend its tenure, it disrupts their planning and may affect their expected returns,” he stated.
PwC has also called for a structured dialogue between government and industry stakeholders.
This according to him, is necessary to strike a balance between revenue generation and industry sustainability.
SP/EB