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Govt increases Growth & Sustainability levy on mining firms to 3% – Finance Minister

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The government has announced plans to increase the Growth and Sustainability Levy on mining companies from 1% to 3%, a move aimed at ensuring Ghana reaps greater benefits from its extractive sector.

Presenting the budget to Parliament, the Finance Minister, Cassiel Ato Forson lamented that Ghana has failed to fully capitalize on its vast natural resource wealth to drive economic development.

He noted that while natural resource rent—the difference between a commodity’s revenue and its production cost—accounts for about 14% of GDP, revenue from the extractive industry contributes only 1.5% of GDP.

“Despite the global surge in gold prices, Ghana has not been able to take full advantage of this development. We have failed to fully capture the economic rent of our natural resources,” the Minister stated.

To address this gap, the government is proposing the increase in the Growth & Sustainability Levy on gross mining production. The new rate, set at 3%, is intended to ensure that the nation gets its fair share of the windfall from rising gold prices.

The proposal is expected to generate significant revenue to support development, infrastructure, and economic diversification.

With Ghana’s economy under pressure, the move signals a shift towards maximizing returns from natural resources to fuel sustainable growth.

Parliament is expected to deliberate on the proposal in the coming weeks.

 

Source: Citi Newsroom

General News

German President Steinmeier to Visit Ghana — High-Level Talks with President Mahama Set for Monday

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President of the Federal Republic of Germany, His Excellency Frank-Walter Steinmeier, will arrive in Ghana on Sunday, November 2, 2025, for a three-day State Visit aimed at strengthening relations between Ghana and Germany.

According to a statement from the Office of the President, the visit will run until Tuesday, November 4, 2025, and will feature a series of high-level engagements between the two countries.

Official activities will begin on Monday, November 3, with a Guard of Honour inspection at the Forecourt of The Presidency in Accra. President Steinmeier will then hold a closed-door meeting with his host, President John Dramani Mahama, followed by bilateral talks between their respective delegations in the Credentials Room.

The discussions will focus on deepening Ghana–Germany cooperation in key sectors including trade, investment, technology, and development partnership.

A State Luncheon will be held in honour of President Steinmeier and his delegation at the Presidential Banquet Hall in the afternoon.

Later in the day, the German President will visit the Kwame Nkrumah Memorial Park, where he will lay a wreath at the tomb of Ghana’s first President, Dr. Kwame Nkrumah. He will also interact with young Ghanaian IT professionals before attending a reception at the German Ambassador’s Residence in Accra.

On Tuesday, November 4, President Steinmeier will travel to Kumasi in the Ashanti Region, where he will perform a sod-cutting ceremony at the Kumasi Technical Institute. He will also engage with the Vice Chancellor, staff, and alumni of the Kwame Nkrumah University of Science and Technology (KNUST).

The German leader is also expected to visit the Kumasi Centre for Collaborative Research before paying a courtesy call on the Asantehene, Otumfuo Osei Tutu II, at the Manhyia Palace.

President Steinmeier will depart Ghana on Tuesday evening, bringing his three-day official visit to a close.

Source: Office of the President

Issued by: Felix Kwakye Ofosu (MP)

Spokesperson to the President | Minister for Government Communications.

 

 

 

 

 

 

 

 

 

 

 

 

 

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General News

President Mahama Arrives in Cairo for Grand Egyptian Museum Opening

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Ghana’s President John Dramani Mahama has arrived in Cairo ahead of the grand opening of the Grand Egyptian Museum (GEM), scheduled for Friday, November 1.

The historic event, taking place under the patronage of Egyptian President Abdel Fattah al-Sisi, will be attended by world leaders, kings, and dignitaries from across the globe.

Overlooking the Giza Pyramids, the GEM is the world’s largest archaeological museum, showcasing over 5,000 years of Egyptian civilization. The $1 billion facility — two decades in the making — houses thousands of ancient artifacts, including 4,500 treasures from the tomb of King Tutankhamun.

President al-Sisi has described the museum as a “symbol of Egypt’s leadership in global culture.” Initially planned for a July launch, the opening was postponed due to regional tensions and is now regarded as one of the most anticipated cultural events of the year.

The project reflects strong cooperation between Egypt and Japan, with Japan providing ¥84.2 billion (approximately $800 million) in soft loans through the Japan International Cooperation Agency (JICA) and the Japan Bank for International Cooperation (JBIC). Japanese experts also trained hundreds of Egyptian professionals in artifact conservation and museum management.

The inauguration comes amid a revival of Egypt’s tourism industry, which recorded revenues of $14.4 billion for 2023–2024 and welcomed over 15 million visitors in the first nine months of 2025.

For Ghana, President Mahama’s participation highlights Africa’s growing presence in global cultural diplomacy. The President was accompanied by Dr. Callistus Mahama, Executive Secretary to the President; Lt. Col. Abdul-Wahab Issah, Aide-de-Camp; Stanislav Dogbe, Deputy Chief of Staff, Operations; and Ambassador Aikins Abrokwa, Director of State Protocol.

The Grand Egyptian Museum stands as a landmark of shared human heritage — uniting ancient history, modern innovation, and international collaboration.

 

 

 

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Crime and Investigation

DVLA Boss Questioned by Special Prosecutor Over Alleged GH¢4 Million Bribe Offer

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The Chief Executive Officer of the Driver and Vehicle Licensing Authority (DVLA), Julius Neequaye Kotey, has appeared before the Office of the Special Prosecutor (OSP) for questioning in connection with an alleged GH¢4 million bribe attempt.

 

This development follows Mr. Kotey’s recent public disclosure that some influential individuals had offered him GH¢4 million to stop the rollout of the new Digitalised Vehicle Registration Plate (DP) policy.

 

According to him, the bribe was meant to persuade him to abandon the initiative, which seeks to reduce vehicle-related fraud and enhance road safety across Ghana.

 

In a statement, the OSP confirmed that the DVLA boss was invited to assist in ongoing investigations. The Special Prosecutor’s office noted that it aims to verify the details of the alleged bribe and identify those involved.

 

Sources say the interrogation is currently underway at the OSP’s headquarters, though specific details are yet to be released.

 

Meanwhile, the OSP has also launched a separate investigation into a sitting member of the Council of State over alleged corruption and corruption-related offences linked to gold trading.

 

According to reports, the probe focuses on suspicions that the Council member may have used his position to influence the granting of a gold licence to a company in which he allegedly holds undisclosed interests.

 

 

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