{"id":450196,"date":"2026-02-05T08:56:13","date_gmt":"2026-02-05T08:56:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/450196\/"},"modified":"2026-02-05T08:56:13","modified_gmt":"2026-02-05T08:56:13","slug":"ghana-risks-losing-investment-to-cote-divoire-over-fiscal-policy","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/450196\/","title":{"rendered":"&#8216;Ghana risks losing investment to C\u00f4te d&#8217;Ivoire over fiscal policy&#8217;"},"content":{"rendered":"<p class=\"article-image\"><a href=\"https:\/\/www.ghanaweb.com\/GhanaHomePage\/business\/Ghana-risks-losing-investment-to-C-te-d-Ivoire-over-fiscal-policy-Chamber-of-Mines-2020270?gallery=1\" rel=\"nofollow noopener\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.newsbeep.com\/us\/wp-content\/uploads\/2026\/02\/95427176.295.jpg\" alt=\"President of the Ghana Chamber of Mines, Michael Edem Akafia\" title=\"President of the Ghana Chamber of Mines, Michael Edem Akafia\" width=\"295\" height=\"197\" \/> <\/a>President of the Ghana Chamber of Mines, Michael Edem Akafia<\/p>\n<p id=\"article-123\">The Ghana Chamber of Mines has warned that proposed fiscal measures could undermine the country\u2019s competitiveness and drive investment to neighbouring jurisdictions, with C\u00f4te d\u2019Ivoire emerging as a major beneficiary.<\/p>\n<p>President of the Ghana Chamber of Mines, Michael Edem Akafia, in an interaction with some journalists of the African Extractives Media Fellowship noted that decisions that fail to balance government revenue objectives with industry sustainability could result in job losses, cancelled projects and capital flight.<\/p>\n<p>\u201cSo, if that mine which is only now starting or that mine which is in a loss making position is burdened with this, then you can imagine jobs will be lost, projects will be cancelled and things like that,\u201d he said.<\/p>\n<p>According to Akafia, the Chamber of Mines has submitted a position paper outlining projects and employment at risk. <\/p>\n<p>\u201cWe actually put together a position paper, which outlines all those projects that are at risk and the jobs that are likely to be affected,\u201d he said.<\/p>\n<p>He cautioned that excessive fiscal pressure could shrink the sector and reduce government revenue over time. <\/p>\n<p>\u201cIf it\u2019s a shrinking pile, you don\u2019t get the revenue that you\u2019re expecting,\u201d he said.<\/p>\n<p>Akafia pointed to C\u00f4te d\u2019Ivoire as a growing competitor for mining investment.<\/p>\n<p><a href=\"https:\/\/www.ghanaweb.com\/GhanaHomePage\/business\/Gold-Coast-Refinery-to-process-two-tonnes-of-gold-weekly-Finance-Minister-2020242\" target=\"_blank\" rel=\"nofollow noopener\">Gold Coast Refinery to process two tonnes of gold weekly \u2013 Finance Minister<\/a><\/p>\n<p>\u201cWe\u2019ve lost investments in Cote d\u2019Ivoire. There used to be a company here called Ken Ross. It\u2019s left Ghana, a big global mining player,\u201d he said, adding, \u201cEndeavor has mines in Cote d\u2019Ivoire. It left Ghana but stayed in Cote d\u2019Ivoire.\u201d<\/p>\n<p>He said investor sentiment against Ghana was becoming entrenched. \u201cThey say they\u2019ll not touch Ghana with a long pole,\u201d he said, referring to discussions with industry players abroad.<\/p>\n<p>Akafia warned that competitiveness, not short-term revenue, should guide policy. \u201cAnything else will make you lose competitiveness,\u201d he said.<\/p>\n<p>#TrendingGH: Watch some Ghanaians react to Kotoka International Airport renaming:<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"President of the Ghana Chamber of Mines, Michael Edem Akafia The Ghana Chamber of Mines has warned that&hellip;\n","protected":false},"author":2,"featured_media":450197,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,101],"class_list":{"0":"post-450196","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/450196","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=450196"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/450196\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/450197"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=450196"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=450196"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=450196"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}