PwC Ghana’s Vish Ashiagbor has called for ongoing dialogue between the government and the mining industry concerning the recent increase of the Growth and Sustainability Levy from 1% to 3%. This rise, announced by Finance Minister Dr. Cassiel Ato Forson, has drawn criticism due to perceived inadequate consultation with industry leaders. Ashiagbor warned that such changes could disrupt long-term investment plans and profitability for mining companies.
Vish Ashiagbor, Country Senior Partner at PwC Ghana, has emphasized the importance of ongoing discussions between the government and the mining sector regarding the recent rise in the Growth and Sustainability Levy from 1% to 3%. On March 11, 2025, the Minister of Finance, Dr. Cassiel Ato Forson, announced this increase, which is set to last until 2028.
Some industry leaders expressed concerns over the lack of sufficient notice and consultation before announcing this policy change. During his address at PwC’s 2025 Budget Digest Forum in Accra on March 18, Ashiagbor recognized the mining industry’s concerns while also acknowledging the government’s fiscal difficulties.
Ashiagbor noted that mining companies rely on long-term investment planning. Consequently, unexpected changes in policy, such as the increase in the Growth and Sustainability Levy, could significantly disrupt their financial forecasts and overall profitability. He articulated this concern by stating, “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.”
Furthermore, PwC advocates for a structured dialogue between the government and mining industry stakeholders. According to Ashiagbor, such discussions are essential to balance the interests of revenue generation with the sustainability of the industry.
In summary, PwC Ghana highlights the critical need for continuous dialogue regarding the increase in the Growth and Sustainability Levy in the mining sector. Stakeholders call for meaningful consultations to address their concerns about potential disruptions to investment planning and profitability. Establishing an ongoing conversation is deemed crucial to achieve an equitable balance between government revenue generation and the sustainability of the mining industry.
Original Source: www.ghanaweb.com
