Ghana is scrapping its 15% value-added tax on mineral exploration in a bid to revive investment in a sector that has struggled to attract new projects for more than two decades.
The levy, introduced 25 years ago, had raised upfront costs for drilling and assay work, prompting industry groups to warn that it undermined Ghana’s competitiveness compared with regional rivals that exempt exploration from VAT.
Finance Minister Cassiel Ato Forson said the move will restore investor confidence, boost greenfield activity, and support broader efforts to curb unregulated mining.
The policy shift comes as small-scale miners deliver record gold shipments, highlighting how recent reforms aimed at formalizing artisanal operations are impacting the sector.
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The financing is designed to cushion energy costs while supporting Botswana’s private-sector and jobs reforms.