Ghanaian Policy Shifts: Parliament Slashes Gold Mining Levy as Government Moves to Ban Gas Cylinder Imports

14th March•3 min read•24 sources

In a series of significant legislative and administrative developments, the Ghanaian Parliament has approved a reduction in the Growth and Sustainability Levy for gold mining companies from 3% to 1% of gross production. This move, defended by Deputy Finance Minister Thomas Nyarko Ampem, is intended to alleviate the financial burden on mining firms following the introduction of a new sliding-scale royalty system in 2025, which links payments to international gold prices. While the government argues this adjustment is necessary to maintain a competitive investment landscape, the Minority Caucus has expressed strong reservations, warning that the change could jeopardize up to one million jobs and potentially deter long-term investment in a sector vital to Ghana's foreign exchange earnings.

Simultaneously, the Minister of Energy and Green Transition, Dr. John Jinapor, announced a planned ban on the importation of gas cylinders to stimulate local manufacturing. This policy shift centers on the revitalization of the Ghana Cylinder Manufacturing Company (GCMC), which requires approximately $8 million for upgrades to support the national Cylinder Recirculation Model. To date, $6 million has been mobilized to modernize the facility, with the government aiming for a 50% Liquefied Petroleum Gas (LPG) penetration rate by 2030. Member of Parliament Charles Asiedu has further urged for targeted state investments and private partnerships to ensure the GCMC can meet local demand and support the country's transition away from wood-based fuels.

On the institutional front, the Ghana Gold Board (GoldBod) has issued a vigorous defense against social media allegations of procurement irregularities. GoldBod refuted claims that an GHS 11 million office renovation contract was sole-sourced to a presidential staffer, clarifying instead that the contract was awarded to Correca Ghana Limited through a Public Procurement Authority (PPA)-approved restricted tender. The Board also addressed concerns regarding the purchase of 15 laptops at GHS 21,500 per unit, asserting that the price reflects market rates and that the procurement followed legal standards for single-source approval due to an urgent need for new directors. GoldBod emphasized its commitment to transparency, noting that all contract details have been published on its official website to counter misinformation.

Further adding to the political discourse, former Deputy Trade Minister Michael Okeyere Baafi has dismissed reports of a 'fictitious' GH¢89.4 million debt within the One District One Factory (1D1F) initiative, characterizing the figures as normal financial transactions mislabeled by audit presentations. Meanwhile, the Tree Crops Development Authority (TCDA) is preparing for a mandatory rollout of the Conveyance Certificate System starting March 30, 2026, to regulate the transport of crops like cashew and coconut. In the utility sector, the Minority in Parliament is challenging the government's previous IMF-linked justifications for tariff hikes following the Public Utilities Regulatory Commission’s (PURC) recent announcement of a 4.81% decrease in electricity and 3.06% decrease in water tariffs. These overlapping developments reflect a broader push for regulatory reform and industrial self-sufficiency as the nation navigates complex economic and environmental goals.

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Ghanaian Policy Shifts: Parliament Slashes Gold Mining Levy as Government Moves to Ban Gas Cylinder Imports

More from politics

Global Governance in Flux: From Military Accountability to Groundbreaking Shifts in Political Representation

Keta MP Demands Urgent Flood Relief While National Leaders Drive Infrastructure, Agricultural, and Social Reforms

President Mahama Champions National Resilience and Welfare Reforms for Senior Citizens

Ghanaian Leaders and Legal Experts Propose Sweeping Institutional Reforms to Strengthen Democracy and Public Accountability