Vish Ashiagbor from PwC Ghana stressed the necessity for ongoing government-industry dialogue following the increase of the Growth and Sustainability Levy from 1% to 3%. The levy, announced on March 11, 2025, raises concerns among industry leaders about the lack of prior consultation. Ashiagbor acknowledged the mining sector’s long-term planning disruptions and called for structured discussions to balance revenue generation with industry sustainability.
Vish Ashiagbor, the Country Senior Partner at PwC Ghana, has highlighted the importance of ongoing dialogue between the government and mining companies concerning the recently announced increase in the Growth and Sustainability Levy from 1% to 3%. This adjustment was revealed by the Minister of Finance, Dr. Cassiel Ato Forson, during a parliamentary session on March 11, 2025, with the levy set to extend until 2028.
Despite the announcement, several industry leaders voiced their concerns regarding the lack of sufficient notice and meaningful consultation prior to the decision. At PwC’s 2025 Budget Digest Forum held in Accra, Ashiagbor acknowledged these industry concerns, while also understanding the fiscal difficulties faced by the government at present.
He noted that mining companies base their investment decisions on long-term planning, indicating that sudden policy changes like the increase in the Growth and Sustainability Levy severely impact their financial forecasts 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 explained.
PwC has urged for a structured dialogue between the government and stakeholders in the industry, asserting that such conversations are essential to find a balance that satisfies both revenue generation goals and the sustainability of the mining sector.
In conclusion, Vish Ashiagbor of PwC Ghana has called for continuous dialogue between the government and mining firms regarding the increased Growth and Sustainability Levy. With concerns raised about insufficient consultation, it is vital for both entities to communicate effectively to ensure that mining companies can maintain their investment strategies while meeting governmental revenue needs.
Original Source: www.ghanaweb.com
