Mining Consultant Wisdom Edem Gomashie Warns of Declining Investment Amid Policy Uncertainty in Ghana

Wisdom Edem Gomashie, a prominent mining consultant, has issued a stark warning regarding the future of Ghana’s extractive industry, emphasizing that policy certainty and investor confidence are now at a critical juncture. Speaking at the West Africa Mining & Power Conference in Accra, Gomashie highlighted that while the government aims to maximize national revenue, abrupt fiscal changes and regulatory shifts could inadvertently stifle long-term growth. The industry expert stressed that maintaining a stable and predictable investment environment is essential if Ghana hopes to remain a top destination for global mining capital.

A primary concern raised during the forum was the recent adjustment of mineral royalties to 12%, a move that Gomashie cautioned could deter prospective investors if not managed with care. He noted that such significant fiscal obligations, coupled with anxieties over tenure security, create a landscape of risk for foreign direct investment (FDI). Without a clear and consistent policy framework, Gomashie warned that Ghana could see a substantial decline in exploration-related FDI over the next decade, which would ultimately undermine the discovery of new mineral deposits and the sustainability of the sector.

To mitigate these risks, Gomashie advocated for a more collaborative approach to resource governance, specifically calling for effective partnerships between local companies and multinational mining firms. He also pointed out the urgent need for a more transparent policy regarding state participation in mining projects. By clarifying the government's role and the terms of its involvement, the state can reduce ambiguity for private partners and foster a more competitive environment that benefits all stakeholders involved in the value chain.

The conference, which drew over 6,000 stakeholders from across the globe, underscored the delicate balance required between securing fair national returns and ensuring a healthy investment climate. As the West African sub-region navigates complex economic pressures, the consensus from the Accra gathering is that only through dialogue, policy stability, and robust legal protections can Ghana’s mining sector continue to serve as a reliable pillar of the national economy and a catalyst for broader industrial development.