Ghana’s mining sector delivered a historic GH₵17.7 billion in revenue to the government in 2024, a 51.2% jump from GH₵11.7 billion recorded in 2023, according to the Ghana Chamber of Mines.
Dividends paid to the state surged by more than 600%, reaching GH₵1.03 billion, underscoring the sector’s rising influence in Ghana’s domestic revenue landscape.
At the Chamber’s 97th Annual General Meeting, its President, Edem Michael Akafia, announced that the sector’s contribution to domestic revenue increased from 8.8% in 2023 to 9.6% in 2024. Additionally, its share of total government revenue rose from 8.6% to 9.5% year-on-year.
“This growth pushed the mining industry’s share of direct domestic taxes to 24.3% in 2024, up from 22.7% in 2023,” Akafia stated.
Mineral royalties also climbed significantly, rising by 76.7% from GH₵2.8 billion in 2023 to GH₵4.9 billion in 2024. This growth reflects higher gross mineral sales, which form the basis for royalty payments. As a result, royalties accounted for 27.7% of the sector’s total fiscal contributions in 2024, up from 23.7% the previous year.
Meanwhile, Innocent Haligah, Chief Director at the Ministry of Lands and Natural Resources, called for greater collaboration with the Ghana Gold Board to enhance safety and sustainability in the mining sector.
“The Gold Board is central to regulating the sector and safeguarding the value of our national currency,” Haligah emphasized. “We must work together to promote responsible mining practices.”
He also urged stakeholders to prioritize local content development and invest in value addition to mineral resources, stressing that most workers in the sector are Ghanaians.
