PwC Ghana’s Vish Ashiagbor emphasizes the need for continuous dialogue between the government and mining firms concerning the increase in the Growth and Sustainability Levy. The levy rose from 1% to 3%, announced by the Finance Minister on March 11, 2025. Concerns were raised by industry leaders about the lack of consultation. Ashiagbor highlights that such unexpected policy changes disrupt long-term investment plans, advocating for stronger communication to balance revenue generation and industry sustainability.
Vish Ashiagbor, the Country Senior Partner at PwC Ghana, has highlighted the importance of continuous dialogue between the government and mining companies regarding the recent increase in the Growth and Sustainability Levy from 1% to 3%. The Minister of Finance, Dr. Cassiel Ato Forson, announced this levy increase on March 11, 2025, and it will remain in effect until 2028.
Ashiagbor pointed out that some industry leaders expressed concerns over the short notice and lack of meaningful consultation prior to the announcement. During his address at PwC’s 2025 Budget Digest Forum in Accra on March 18, he acknowledged the industry’s worries while also recognizing the government’s fiscal challenges.
He explained that mining companies rely on long-term planning for investment decisions, which can be disrupted by sudden policy changes, such as the increased levy. This unpredictability can adversely affect their financial projections and profitability.
Ashiagbor affirmed that stakeholders in the mining sector argue their investments are based on long-term strategies. An abrupt change in levy increases disrupts their plans and could diminish their expected returns.
PwC Ghana has called for a structured dialogue between the government and industry stakeholders to balance revenue generation with industry sustainability. Such discussions are deemed essential for fostering a cooperative relationship between the two parties.
In summary, PwC Ghana’s Vish Ashiagbor advocates for ongoing dialogues regarding the recent increase in the Growth and Sustainability Levy. Acknowledging the government’s fiscal challenges, he emphasizes that sudden policy changes disrupt long-term investment plans for mining companies. The call for structured dialogue seeks to balance government revenue needs with the sustainability of the industry, underscoring the importance of collaboration between stakeholders.
Original Source: www.ghanaweb.com
