President John Dramani Mahama has highlighted the significant impact of establishing the Ghana Gold Board (GoldBod).
Mr. Mahama emphasized that the Board will ensure the country gains greater monetary value from its gold exports.
In a video outlining the events leading to the creation of GoldBod— from parliamentary approval on Friday, March 28, to the final presidential assent—President Mahama reiterated the importance of the initiative.
“This is the GoldBod Act. This sets up the GoldBod that will streamline Ghana’s gold sector, including our exports, to make sure that Ghana earns more value for money from our gold mining exports,” he said while holding the signed bill.
The Ghana Gold Board is mandated to oversee, monitor, and manage the buying, selling, and export of gold and other precious minerals in the country.
Under the new law, the board is designated as the sole exporter of gold from Ghana’s small-scale mining sector, effectively barring licensed traders and bullion dealers from exporting gold directly.
However, the board has faced strong criticism from the Minority in Parliament, who argue that it could fuel illegal mining (galamsey) rather than curb it.
