Côte d’Ivoire emerging as serious rival to Ghana’s gold industry – Ken Ashigbey

The CEO of the Ghana Chamber of Mines has warned that Ghana risks losing major mining investments to neighbouring countries as Côte d’Ivoire aggressively positions itself as Africa’s top gold producer.

Côte d’Ivoire emerging as serious rival to Ghana’s gold industry – Ken Ashigbey. The CEO of the Ghana Chamber of Mines has warned that Ghana risks losing major mining investments to neighbouring countries as Côte d’Ivoire aggressively positions itself as Africa’s top gold producer. Ken Ashigbey, speaking on PM Express Business Edition on Thursday, said Ghana’s current fiscal regime is making the country less attractive to investors, especially as competitors in West Africa offer better conditions. He explained that under the current structure, government’s share of mining profits is already hitting the IMF’s upper threshold of 60%. “The upper limit is what we are hitting,” he said, warning that the burden becomes even heavier when gold prices begin to fall. According to him, investors are increasingly comparing Ghana’s tax regime with tha...