The Minister of Lands and Natural Resources, Emmanuel Armah-Kofi Buah (MP), has urged investors to turn their attention to Ghana, touting the country as a ‘secure environment’ for mining investments across the globe.
According to him, the country’s political stability and tested democratic credentials make it an ideal destination for profitable business within the mining and extractive industry.
Speaking at the Ghana Day Event at this year’s Mining Indaba Conference in South Africa on yesterday, the minister explained that over the years, Ghana has played host to tonnes of large-scale mining companies who have been successful in their operations within the shores of the country.
In a passionate address to woo global investors, the minister stressed that the country’s hospitality, economic viability, and business-friendly environment make it the best investment choice.
“I assure you that you can invest in Ghana with confidence, knowing that your investments are protected by a stable, universal system, and a government that upholds the principles of good governance, including the rule of law and the sanctity of contracts.
“These legal regimes offer strong investment protections, including stability agreements, shielding investors from retroactive policy changes, contract sanctity and accrued rights, tax exemptions on selected imported mining equipment, among others,” Minister Buah stated.
He continued that, “Ghana’s fiscal regime is designed to support mining projects, while optimising the government’s share of revenues to develop a vibrant industry.
“Our recent decision to scrap, for example, a tax on exploration is just one example of what I’ve described. Our fiscal policies support project viability through generous capital allowances, law-centric carry-forward provisions, striking a balance between investor returns and national development objectives.”
The Lands Minister further added that “to provide you (investors) with some comfort, it is worth noting that we also have strong institutions.”
In pitching Ghana to the global investor community, the minister indicated that by saying that “our doors are open, the data is available, and the opportunity is now. We seek more than just capital. We are on the lookout for ethical, innovative partners committed to long-term value creation.”
On partnerships, he said Ghana is welcoming “partners who understand that money is not just about structure, but the transformation of the entire ecosystem and the lives of all stakeholders at all levels.”
“My friends, if you think about investment in mining, think about a country that has really gained a reputation over the years for political stability. Think about that one country that has gained that reputation for regulatory certainty.
Think about a country that believes that it is fair for investors to have a very good return on investment. By doing so, we work together to also create a win-win partnership, not only for those communities, but for the country at large.
Allow me to invite you to the beautiful, mineral-rich, opportunity-leading Ghana. Come and see for yourself, and let’s go create solutions that benefit investors, communities, and the group at large,” the Lands Minister concluded.
The comments by the minister were received by the gathering seasoned investors and moguls, present at the event.
The Ghana Day Event on Wednesday also created a platform for engaging business conversations among investors and participants.
Earlier, the minister had held a series of high-level engagements with colleague ministers and key policy makers on how to advance sustainable and profitable mining in Africa and the rest of the world.
Through strategic meetings with the African Finance Corporation, Afrexim Bank and other crucial finance entities, Armah-Kofi Buah also called for support for Ghana’s latest Responsible Cooperative Mining and Skills Development Programme and other policies, aimed at curbing illegal mining and making the sector more sustainable and productive.
The minister also held successful engagement with AngloGold, Newmont, Goldfields and the President of the US-Africa Chamber of Commerce, among others.
Overall, Ghana’s participation at this year’s Mining Indaba has been largely successful with Ghana due to rake huge investment potential.
BY STEPHANIE BIRIKORANG
Follow Ghanaian Times WhatsApp Channel today. https://whatsapp.com/channel/0029VbAjG7g3gvWajUAEX12Q
Trusted News. Real Stories. Anytime, Anywhere.
Join our WhatsApp Channel now! https://whatsapp.com/channel/0029VbAjG7g3gvWajUAEX12Q
