President John Dramani Mahama on April 2, 2025, signed the Ghana Gold Board (GoldBod) Bill, 2025, into law, marking a crucial step towards regulating the country’s gold sector.
The Gold Board Bill 2025 was passed by Parliament on Friday, March 28, 2025. This bill is part of a broader framework aimed at regulating the gold sector in Ghana and its primary objectives are to oversee the buying, selling, and export of gold.
This legislative effort is designed to strengthen the formalization of the gold trade, improve industry transparency, and provide a significant boost to Ghana’s economic growth.
It was established by President Mahama as part of his administration’s economic revitalization agenda.
The creation of GoldBod was a key promise in the National Democratic Congress (NDC) 2024 manifesto to regulate and market the country’s gold resources for national benefit.
To lead this initiative, President appointed Mr Sammy Gyamfi, the NDC Communications Officer, as the acting Managing Director of the Precious Minerals Marketing Company (PMMC).
Mr Gyamfi has been tasked with setting up and operationalising GoldBod under the supervision of the Minister of Finance.
Starting the process, Dr Cassiel Ato Forson, Finance Minister, inaugurated the Technical Committee to draft a legal framework for the establishment of the GoldBod
The Technical Committee was tasked with developing the legal and operational framework, particularly the drafting of a Bill for the establishment of the GoldBod.
The members of the committee include Sammy Gyamfi– Acting Managing Director, PMMC, Marriettta Agyeiwaa Brew– Legal Counsel to the President, Dr. Abdul Baasit Aziz Bamba– Legal Practitioner, Dr. Johnson Asiamah– Governor, Bank of Ghana, Dr. Tony Aubyn – Former CEO, Minerals Commission and Joojo Kakra Bannerman– Head of Financial Markets, Standard Chartered Bank.
Others are 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 and Bernard Samuel Nnan – Head of Field Operations, PMMC.
The rest are Richard Kofi Afenu–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 and A Representative from the Office of the Attorney-General.
A broad, consultative approach was key to GoldBod’s development. Mr Gyamfi held staff durbars and engaged with key stakeholders, including Ministries of Finance and Land and Natural Resources, Ghana National Association of Small-Scale Miners, Ghana Association of Forex Bureau, and the State Interest and Governance Authority.
These consultations helped shape the policies and strategies that would govern the initiative which will boost the country’s gold industry.
GNA
