AGI Criticizes Proposed Increase in Growth and Sustainability Levy- GHANA

The Association of Ghana Industries (AGI) has expressed strong objections to the proposed increase in the Growth and Sustainability Levy. The levy, which currently stands at 1 percent on the gross production of mining companies, is set to rise to 3 percent under the 2025 budget announced by Finance Minister Cassiel Ato Forson on March 11. In addition, the sunset clause for the levy will be extended to 2028, a proposal that has raised concerns within the business community.

Tsonam Akpeloo, the Greater Accra Regional Chairman of AGI, emphasized the negative impact this increase would have on local industries. In an interview with Citi News, Akpeloo noted that the levy already significantly affects the operations of mining companies and other industries. The assurance from the government that the levy would end by this year now seems unlikely, as the proposed extension to 2028 has taken the business community by surprise.

Akpeloo further stated that this increase would be detrimental to the growth of industries, particularly in light of the government’s push to create more jobs as part of a 24-hour economy initiative. He warned that the additional financial burden would put a strain on businesses, especially when the economy is already facing various challenges.

The AGI has vowed to engage with the government to reconsider the extension of the levy. Akpeloo stressed that industry stakeholders had made plans based on the initial assurance that the levy would end soon. The association hopes to influence the go

SOURCE: CITI NEWSROOM