Ghana

Elevated Risk

Ghana · Country · Last assessed Apr 2026

Composite Score 15/25

Higher = lower risk. 22–25 LOW · 18–21 MODERATE · 13–17 ELEVATED · 8–12 HIGH · 5–7 EXTREME.

Permitting Timeline & Predictability

3/5

Minerals Commission capable; timelines workable.

Fiscal Regime Stability

3/5

Royalty regime largely stable; periodic gold-export levy proposals.

Political & Security Risk

4/5

Africa's most stable democracy; consistent peaceful transitions of power.

Infrastructure & Power

2/5

Adequate around established districts; rural greenfield projects need build-out.

Indigenous, Community & ESG

3/5

Community engagement processes generally functional; illegal mining (galamsey) a backdrop issue.

Assessment Summary

Ghana is one of West Africa's most stable mining jurisdictions and Africa's second-largest gold producer. The political framework has been remarkably stable across multiple democratic transitions, and the regulatory regime is one of the most predictable on the continent.

The galamsey (illegal artisanal) mining problem is the persistent jurisdiction-level challenge — it complicates community relations and creates security overhead at most operating mines. Infrastructure is workable in the Ashanti and Western regions but requires investment elsewhere.

Jurisdiction risk is one input — geology, capital structure, and management still matter. See the Verdict Framework for full company scorecards.