Ing. Kenneth Ashigbey, CEO of the Ghana Chamber of Mines, has declared a new era of aggressive investment attraction for Ghana’s extractive sector, signaling that the nation is “open for business” following significant fiscal reforms.
Delivering a keynote address at the during Ghana Day Event the 2026 Mining Indaba in Cape Town, Ashigbey emphasized that the government’s recent decision to abolish Value Added Tax (VAT) on exploration is a game-changer for the industry.
This move is designed to lower the cost of entry for new players and rejuvenate greenfield activities, ensuring that the country’s mineral-rich landscape remains competitive against regional peers.
“We’re open for business. After several years of engagement, the government has taken off VAT on exploration, and we are hoping that out of this, investment will increase. We facilitate dialogue and interaction with the policymaker and the regulator to find a sweet spot that makes the industry efficient.”
Ing. Kenneth Ashigbey
As the Chamber of Mines prepares to mark its centenary in 2028, this strategic shift aims to expand a membership that currently boasts 13 large-scale gold mining companies and a prominent manganese firm.
Beyond the removal of VAT, Ashigbey noted that the “administration around exploration” is undergoing a total overhaul to improve efficiency and transparency.
By facilitating a continuous “sliding scale” fiscal dialogue between the Minerals Commission and the Ministry, the Chamber seeks to find a “sweet spot” that protects both investor returns and national interests, particularly as two new companies transition into their first year of mining production.
Strategic Value of Global Capital Influx
Thorough economic research indicates that deepening investor participation in Ghana’s mining sector is projected to yield a multi-dimensional “profit” for the national economy.
Increased Foreign Direct Investment (FDI) into the sector which already accounts for over 50% of thecountry’s total FDI is a primary catalyst for industrial transformation.
Beyond the immediate infusion of capital, more investors facilitate the development of “integrated value chains,” particularly in the processing of manganese, bauxite, and lithium.
This beneficiation strategy is expected to raise the sector’s GDP contribution from the current 8%to over 12% by 2030, while creating thousands of high-skilled “off-farm employment” opportunities in geospatial services and data-driven mining solutions.
Strengthening the Regulatory and Social Fabric
The Chamber is not merely seeking capital but “ethical, innovative partners” who adhere to international benchmarks of “responsible and sustainable mining.”
Every member is required to sign up to standards that exceed national regulations, ensuring that new investments trigger a “win-win partnership” for host communities.
These partnerships are already yielding tangible results, with projections showing a 18% rise indirect and indirect employment in key mining corridors by the end of 2026.
Furthermore, increased revenue from royalties and corporate taxes enables the government to “ring-fence funding” for critical social infrastructure, including the five new clinics and over 1,100 scholarships currently supported by industry-led sustainability initiatives.
A Century of Growth and Future Prospects
As the industry marches toward its 100th anniversary, the focus remains on “enhancing corporate governance” and protecting the interests of both local and multinational firms.
The presence of four local contract mining firms alongside three multinationals demonstrates a maturing, “vertically integrated Ghanaian mining ecosystem.”
With the Minerals Commission and EPA serving as associate members, the Chamber provides investors with “access to reliable fiscal information for strategic decision-making.”
This collaborative framework, bolstered by the “digitalization of government processes,” ensures that Ghana’s mineral endowment translates into “lasting national prosperity” for generations to come.
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