Ghana’s extractive industries need better, clearer rules from the government. Gideon Ayi-Owoo, a partner at Deloitte Ghana, believes this is crucial. He spoke at a discussion hosted by Joy Business in Accra on Tuesday, May 26, 2026. The event focused on the theme “To Nationalise or Transform? Rethinking Ghana’s Approach to Mining, Oil and Critical Minerals”.
Mr Ayi-Owoo emphasized that the long-term success of mining, oil, and critical minerals depends on good policies. These policies must be consistent and forward-looking. He stated that the industry needs steady policy alignment. This creates a predictable environment. Investors need this for long-term planning. It also helps ensure everyone benefits from the sector's growth.
Ghana's economy relies heavily on its natural resources. The extractive sector contributes significantly to the country's Gross Domestic Product (GDP). However, the government often faces challenges in maximizing revenue from these resources. Previous reports have indicated issues with transparency and benefit sharing. Clearer policies could help address these long-standing concerns. Better resource management is vital for Ghana's economic development goals.
“We just have to have a good policy in place so that whatever decision we are going to take, it benefits everyone,” Mr Ayi-Owoo said. He urged the government to set out simple, bold guidelines for renewing mining leases. This practice can reduce uncertainty in the sector. He said, “The government should come out with a very clear, bold guideline policy that will say that these are the conditions under which I am going to renew, so that if the old or the current owner fulfils, it is very clear.”
Mr Ayi-Owoo also argued that if Ghana wants to use mining for industrialisation, this goal must be part of mining agreements. It should be explicitly written into lease conditions. “If you want industrialisation, make it a precondition, put it on paper that this is how I see industrialisation, and let the mining companies be aware,” he added. He highlighted the importance of certainty in lease renewal. Unclear rules can stop companies from investing more money in Ghana. “Ghana's challenge is beyond the leases expiring; we need certainty to ensure that the lease renewal rules will encourage reinvestment,” he explained.
These expert opinions come at a critical time for Ghana’s resource management. The country is seeking to attract more responsible investment. It also aims to ensure its citizens receive a fair share of the wealth generated. The discussions at the Joy Business forum brought together industry leaders and policymakers. They aimed to find better ways to manage Ghana’s significant mineral and oil reserves.