The Chief Executive Officer of the Ghana GoldBod, Sammy Gyamfi, has emphasised that his outfit, as part of the vision of the Mahama-led administration, is committed to safeguarding Ghana’s economic interests in the gold industry.
This statement follows a press conference held by GoldBod to outline guidelines for the implementation of new regulations, following the passage of legislation by Parliament to consolidate the now-defunct Precious Minerals Marketing Company (PMMC) into the newly established Ghana GoldBod. The entity is now legally mandated to oversee all gold transactions in the country.
Speaking at the event on Monday, June 30, Mr. Gyamfi reiterated the government’s commitment to maximising returns from Ghana’s gold resources, a significant source of foreign exchange for national development.
He noted that a new licensing regime, effective June 21, has been introduced to streamline all gold-related transactions and ensure the state receives the full value of gold exports.
“Gold is a natural resource that we’ve been abundantly blessed with by God and has played a critical role in our development for centuries. However, recent discrepancies between the amount of gold mined and what is officially declared have led to substantial revenue losses. This new system aims to plug all loopholes and curb the under-declaration of gold exports,” Mr. Gyamfi stated.
He explained that the licensing regime will ensure that only licensed and recognised gold dealers operate within the sector. The policy also mandates that only Ghanaians will be allowed to engage in the buying and selling of gold locally, as a way of empowering citizens to contribute meaningfully to the national economy.
“There will be strict enforcement of the law across the board. We urge all dealers currently operating without a valid license to regularise their activities immediately or face legal consequences,” he warned.
To enhance compliance, Mr. Gyamfi revealed that President John Mahama will officially commission a National GoldBod Taskforce on July 8. The Taskforce, he said, has undergone training at the Army Warfare School in Achiase and will be deployed to all gold-producing regions to enforce the law and gather intelligence on illegal activities.
“The Taskforce will be fully uniformed with GoldBod insignia, equipped with body cameras and bulletproof vests, and will operate under real-time monitoring from a central command centre in Accra,” he added.
In addition, GoldBod is collaborating with Parliament and other stakeholders to pass the Whistleblowers Act, which will empower citizens to report illegal mining and trading activities. A reward system will be implemented to incentivise informants with a portion of confiscated funds or gold, as a way to sustain national vigilance and public cooperation.
GoldBod is now the sole entity mandated by law to issue licenses for the buying, selling, and export of gold in Ghana.
According to official data from the past six months, Ghana has accrued approximately $6 billion from an estimated 50 tonnes of gold produced, compared to 66 tonnes for the entire previous year.
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Story by Sika Togoh |univers.ug.edu.gh
