Ghana risks losing Africa’s top gold producer title to Côte d’Ivoire, expert warns

• The Ghana Chamber of Mines warns that Ghana could lose its position as Africa’s top gold producer.

• Côte d’Ivoire is positioning itself to attract more mining investment and expand gold production.

• Experts caution that unstable policy decisions could weaken investor confidence and reduce Ghana’s competitiveness in the mining sector.

The Ghana Chamber of Mines has cautioned that Ghana could lose its position as one of Africa’s leading gold producers if policy decisions begin to weaken investor confidence in the mining sector.

According to the Chamber, neighbouring Côte d’Ivoire is rapidly positioning itself to attract more mining investment and increase gold production in the coming years.

The warning follows recent calls by the Institute of Economic Affairs urging government not to approve the proposed 20-year lease extension for Gold Fields’ Tarkwa Mine.

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The institute argued that Ghana should pursue stronger state participation and greater local control within the mining industry.

However, speaking at a press conference, the Chief Executive Officer of the Chamber of Mines, Ken Ashigbey, said while reforms in the mining sector are important, Ghana must also maintain a stable and attractive environment for investors.

He warned that policies viewed as hostile or unpredictable could push both local and foreign investors to other countries actively competing for mining capital.

Ing. Ashigbey explained that Côte d’Ivoire has already developed a long-term strategy aimed at becoming Africa’s top gold producer within the next decade.

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He noted that Ghana and Côte d’Ivoire share similar geological resources, adding that investors can easily move their capital to countries they consider more stable and investment-friendly.

According to the Chamber, some mining companies and Ghanaian investors are already exploring opportunities in neighbouring countries due to changing investment conditions within the sub-region.

Ing. Ashigbey stressed that Ghana must focus not only on attracting international mining companies but also on retaining local investors to remain competitive in the global mining industry.

He further warned that failure to protect investor confidence could affect future investment inflows, production growth and Ghana’s long-standing reputation within Africa’s mining sector.

While Ghana currently leads Africa in gold production, recent warnings from the Chamber of Mines suggest that this position could come under threat as Côte d’Ivoire intensifies efforts to become the continent’s top producer.