The West Africa Deputy Lead for Energy Resources and Industry at Deloitte, Gideon Ayi-Owoo, has called for a clear policy guideline to drive local participation and licence renewals in Ghana’s extractive sector.

His remarks come at a time when the debate over state ownership has intensified, as Ghanaians demand greater economic benefits from abundant natural resources.

In response, the government has explored stricter resource nationalism policies, raising concerns among foreign investors who fear sudden regulatory shifts could jeopardise long-term commitments.

Speaking at the Joy Business Roundtable Discussion, themed "To Nationalise or Transform? Rethinking Ghana's Approach to Mining, Oil and Critical Minerals," he pointed out that policy uncertainty could threaten future investments and state revenues.

Mr Ayi-Owoo emphasised the need for policy transparency in balancing national ambitions with investor confidence.

"We need clear guidelines under what conditions government will renew guidelines or not renew any mining licences. Uncertainty could affect investment in the future," he explained.

He further noted that a lack of predictability could also force mid-level mining companies to change their strategy, focusing only on high-margin, easily accessible gold deposits whilst abandoning more complex explorations.

According to him, a defensive approach could leave vast mineral wealth untapped, ultimately reducing state revenues in the medium to long term.

"I am saying this because of the impact it could have on government's revenue tick," he stated.

Mr Ayi-Owoo, who is also a Tax Partner at Deloitte, called for a stronger policy approach to drive industrialisation in Ghana’s extractive sector.

Highlighting the mandatory inclusion of industrial development in mining agreements, he explained that this will be crucial to transforming mere extractive exploration into impactful industrial expansions across the mining sector.

He said, "Mining contracts should go beyond extraction and revenue generation to include clear commitments that promote local industrial growth and value creation."

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.

Tags:

Deloitte Partner Asks Government for Clear Rules on Mining License Renewals

Suggested for you

More Stories

echnician- Engineering Maintenance I IND

Capital Takes Center Stage at Angola Oil & Gas (AOG) 2026 as Finance Leaders Join Speaker Lineup

MEXC Hires Binance and Bybit Veteran MacDonald as Compliance Chief

Hong Kong's landmark fund tax reforms set to attract wave of global asset managers: KPMG report

Delta offloads Hatfield office property in R35m debt reduction drive

Middle East war keeps Sasol ORYX gas-to-liquid plant shut

Discussion