Business News of 2026-09-02

Dr Ato Forson explains why government introduced sliding-scale royalties

Finance Minister Dr Cassiel Ato Forson says the government introduced the sliding-scale royalty system to ensure Ghana receives a fair share of returns from its natural resources, particularly gold. According to him, the system is designed to allow mining companies to recover their costs and earn reasonable profits while ensuring that the state benefits more when returns from the country’s natural resources increase. Dr Forson made the remarks during an engagement with Perseus Mining Limited on Tuesday, September 1, 2026, following the presentation of a $35 million dividend to the state. 'GoldBod has no mandate to sell and auction foreign currency' – Dr Amin Adam He said the government’s approach is based on the principle that while investors and shareholders deserve returns on their investments, Ghana, as the owner of the resources, must also receive adequate benefits. “I've always said that the time has come for Ghana to have a system to be able to benefit from economic rent of particularly extractive industry, oil or gold in the case of Ghana,” he said. He explained that companies operating in the extractive sector incur costs and therefore deserve reasonable returns. However, when profits rise beyond normal levels, the state should also receive a greater share. “It is a fact that shareholders must benefit, but it's also a fact that the owners of the resource must also benefit,” he stressed. He said the sliding-scale system was introduced with this objective in mind, allowing Ghana to capture a greater share of the benefits when conditions in the extractive sector are favourable. The Finance Minister also rejected suggestions that the policy was intended to discourage investment in Ghana’s mining sector. Borrowing costs set to ease as Ghana Reference Rate drops to 10.18% “When government introduced this from the beginning, impressions were created that we are driving investment away. Far from it. That was certainly not the intention of government,” he stated. He maintained that the government wants to strike a balance where investors remain profitable while Ghanaians also receive a fair return from resources that belong to them. DR/MA 'Ghana must receive its fair share from extractive sector' – Dr Ato Forson Ghana will not borrow simply because financing is available – Dr Ato Forson