Deloitte Partner urges clear, consistent policies to govern mining license renewals, local content

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.”

المصدر: MyJoyOnline (GH)