Ghana risks losing significant mining investments to neighboring countries due to an increasingly unfavorable fiscal regime, a situation exemplified by the departure of major player Endeavour Mining to Côte d’Ivoire, according to Kenneth Ashigbey, CEO of the Chamber of Mines. This trend, highlighted on Thursday, signals a critical juncture for the West African nation’s vital mining industry.
Investor Confidence Erodes Over Fiscal Policies
Ashigbey revealed that a substantial investment intended for Ghana was redirected to Côte d’Ivoire after a mining company sold a property in South Sudan. The decision to move funds was driven by concerns over Ghana’s tax structure, particularly its royalty rates.
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