Ghana Scraps Mining Exploration Tax to Revive Investment in Key Sector, Says Finance Minister
Ghana Scraps Mining Exploration Tax to Revive Investment in Key Sector, Says Finance Minister
The government abolished its 15% value-added tax (VAT) on exploration in an effort to attract new investments to the mining sector, which accounts for over a third of Ghana's export revenues, Cassiel Ato Forson said during the 2026 budget presentation.
The move reverses a 25-year-old policy that had made the country less competitive against regional rivals, according to local industry groups. The tax had long been criticized for discouraging greenfield investment in early-stage mining projects.
"Abolishing VAT will revive investor confidence, stimulate greenfield activity, and ensure the long-term sustainability of the country’s mining sector," Forson told parliament.
The policy shift comes as Ghana's small-scale gold exports reached a record 81.7 tonnes between January and October, surpassing large-scale mine exports for the first time.
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