High tax rates hindering growth in Ghana’s petroleum industry – Deloitte Report

Deloitte's October 2024 Oil and Gas Industry Survey highlights key challenges in Ghana's petroleum sector, with 46% of stakeholders citing high tax rates as a major issue impacting profitability and growth.

About 42% of industry players advocate for tax amnesty to foster a better tax environment.

Additionally, 80% struggle with forex acquisition due to high exchange rates.

While 91% believe local content regulations sufficiently support Ghanaian participation, concerns persist about discouraging foreign investment.

Top management emphasizes the importance of public ESG disclosure, with companies receiving a 4.22 rating for transparency on environmental and social impacts.

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