The Minister of Lands and Natural Resources, Emmanuel Armah-Kofi Buah, has urged investors to turn their attention to Ghana, touting the country as a “secure environment” for mining investments.
He said the country’s political stability and tested democratic credentials made it an ideal destination for doing profitable business within the mining and extractive industry.
Speaking at the Ghana Day Event at this year’s Mining Indaba Conference in South Africa yesterday, the minister explained that over the years, Ghana had played host to tonnes of large-scale mining companies which had been successful in their operations.
The gathering contained seasoned investors and business moguls.
“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,” he said.
In a passionate address to woo global investors, Mr Armah-Kofi Buah stressed that the country’s hospitality, economic viability and business-friendly environment made 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,” Mr Armah-Kofi Buah said.
“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,” he added.
Structured system
The Lands Minister further touted Ghana’s institutional depth and a structured system friendly to the investor community.
“To provide you (investors) with some comfort, it is worth noting that we also have strong institutions,” he said.
On partnerships, he said Ghana was 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,” Mr Armah-Kofi Buah said.
“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 added.
Ghana Day
The Ghana Day event yesterday also created the platform for engaging business conversations among investors and participants.
Earlier, the minister 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.
During the four-day conference, Mr Armah-Kofi Buah also held successful engagements with AngloGold, Newmont, Goldfields and the President of the US-Africa Chamber of Commerce, among others.
During strategic meetings with the African Finance Corporation, Afrexim Bank and other crucial finance entities, the Lands and Natural Resources Minister also called for support for Ghana’s latest Responsible Cooperative Mining and Skills Development Programme (rCOMSDEP) and other policies aimed at curbing illegal mining and making the sector more sustainable and productive.
Source:
www.graphic.com.gh
