In a swift move to give meaning to President Mahama’s pledge to establish a Ghana Gold Board (GoldBod), Finance Minister, Dr Casiel Ato Baah Forson has inaugurated a twenty-one (21) technical committee to draft a legal framework for the actualisation of the objective.
Speaking at the inaugral event on Monday 27, January, 2025, Dr Forson said the Ghana GoldBod when established will fully harness the economic potential of the country’s vast gold resources.
According to him, the board’s primary goal is to ensure Ghana maximises the benefits of its rich gold reserves.
The establishment of Ghana GoldBod will oversee the gold mining, refining, and export processes, with a focus on boosting local value creation whiles strengthening the country’s position in the international gold market.
The initiative is expected to drive significant economic growth, attract investment, and increase the country’s overall gold production.
“Historically, Ghana’s revenue from gold is either from traditional sources such as royalties and taxes. The Ghanaian economy has not realised the full benefit of resources. The time has come for Ghana to expand beyond royalties and taxes by harnessing the entire value chain of gold.
“As a nation, we must aspire to maximise the full benefit of our gold resources. This involves optimising every stage of the value chain from extraction to refinery, and value addition both locally and internationally. The Ghana GoldBod will serve as a specialised agency to ensure the marketing of Ghana’s gold resources.
“This will involve the implementation of a deliberate programme to formalise gold trading from a small-scale trading industry and promote traceability to enhance international acceptability,” the finance minister stated.
Membership of the technical committee include:
• Sammy Gyamfi – Acting Managing Director, PMMC
• Marietta Agyeiwaa Brew – Legal Counsel to the President
• Dr. Abdul Baasit Aziz Bamba – Legal Practitioner
• Dr. Johnson Asiamah – Former Deputy Governor, Bank of Ghana
• Dr. Tony Aubyn – Former CEO, Minerals Commission
• Joojo Kakra Bannerman – Head of Financial Markets, Standard Chartered Bank
• Martin Kwaku Ayisi – CEO, Minerals Commission
• Joseph Iroko – Legal, Minerals Commission
• Eric Bukari – Manager, Small Scale Mining, Minerals Commission
• Paul Elikplim Bleboo – Deputy Manager, Gold Desk, Bank of Ghana
• Kwabena Agyemang Barning – Chief Technical Officer, MIIF
• Mr. Ernest Asiedu Odami – Director, Corporate Planning, PMMC
• Sharon Quaye – Head of Business Development, PMMC
• Mohammed Abubakar – Director of Finance, PMMC
• Bernard Samuel Annan – Head of Field Operations, PMMC
• Richard Kofi Afenu Esq. – Geologist, Mineral Economist, Finance, Private Legal Practitioner
• Mr. Kwaku Effah Asuahene – Chairman, Chamber of Bullion Traders, Ghana
• Godwin Nichelsen Armah – General Secretary, National Association of Small-Scale Miners
• Roger Kwakye – Gold Trading Consultant
• A Representative from the Ministry of Finance
• A Representative from the Office of the Attorney-General.