Ghana will stop charging a value-added tax on minerals processing as part of broader taxation changes to make the economy “more business friendly” and create jobs, its finance minister said.
Cassiel Ato Forson announced the VAT change while presenting the government’s spending plan and economic targets for 2026. The tax spurred “very little investment in minerals exploration over the past two decades,” he said.
Ghana is Africa’s top gold producer and sales of the precious metal accounted for more than 60% of the $18 billion earned from exports so far this year. It follows a trend of African governments pushing to generate more revenue by promoting more local processing of minerals and other natural resources.
Forson said the government expects average real GDP growth of 4.9% between 2026 and 2029, and hopes to keep inflation at its current level of 8% during that period.