The Ghana Gold Board (GoldBod) has announced plans to introduce tax incentives for local gold refineries, jewellers and gold fabrication businesses under measures expected to be outlined in the 2027 Budget Statement.
Chief Executive Officer of GoldBod, Sammy Gyamfi, said the proposed incentives would help reduce operating costs in the industry, improve the competitiveness of local businesses and position Ghana as a regional centre for gold processing and value addition.
Speaking to Bernard Avle at the Mining in Motion Conference on Tuesday, October 20, 2026, Mr Gyamfi said the high cost of doing business remained a major challenge for local refineries and required policy interventions to support their operations.
“What is required is a congenial business climate for the refineries because their cost of doing business is very high at the moment,” he said.
He explained that the proposed measures would cover not only gold refineries but also jewellers and other businesses involved in transforming gold into finished products.
The policy is intended to expand local participation in the gold value chain by making it more commercially viable for businesses to process the mineral and manufacture products within the country.
“You’re going to see tax incentives for local jewellers, you’re going to see tax incentives for local refineries aimed at reducing their cost, making them competitive, so that we can make Ghana a hub for the region for value addition,” he said.
Mr Gyamfi also identified electricity costs as another issue affecting businesses, saying the proposed economic policy would include measures to expand power generation and promote cheaper sources of electricity.
“You will see a lot about expansion in power production, and not just expansion in power production, but cheaper sources of power production,” he stated.
He expressed confidence that the proposed interventions would create a more favourable operating environment for refineries and other gold-related businesses, enabling them to expand their activities and strengthen Ghana’s position in the regional gold-processing industry.
The proposed incentives are expected to feature in the 2027 Budget Statement, although specific tax measures and implementation details were not outlined in his remarks.
