After a marathon of debates, Parliament has passed the Goldbod Bill 2025 into law. The bill, which establishes the Ghana Goldbod, is tasked with overseeing, monitoring, and regulating the buying, selling, and export of gold and other precious minerals in the country.
It also supports responsible mining practices and aims to build gold reserves within the Central Bank to generate revenue to stabilize the cedi.
In an effort to formalize the small-scale mining sector, the Goldbod will regulate gold trading, enhance traceability, and work towards obtaining certification from the London Bullion Market Association (LBMA).
However, the bill faced opposition from Minority MPs, who boycotted the voting process, expressing concerns that it could lead to an increase in illegal mining, known as “galamsey.” Despite their objections, the Majority Leader, Mahama Ayariga, praised the bill as a landmark piece of legislation.
The Minority MPs staged a walkout during the consideration of the Goldbod Bill 2025. The First Deputy Speaker of Parliament, Bernard Ahiafor, proceeded with the vote, with the Majority in support of the motion. “Honourable members, as many as are in favour of the motion, say ‘Aye’… Those against, say ‘No,'” he stated.
After the voice vote, he declared, “The Ayes have it, the motion is accordingly adopted.”
President John Dramani Mahama, as part of his efforts to revitalize the economy, initiated the creation of the Ghana Goldbod. The board is a key promise in the National Democratic Congress (NDC) 2024 manifesto, aimed at regulating and marketing the country’s gold resources for national benefit.
Source: Ghana/StarrFM 103.5FM/Benjamin Sackey
