The GoldBod Technical Committee has successfully held a stakeholder engagement in Bolgatanga, Upper East Region, on Wednesday, March 26, as part of efforts to reshape Ghana’s gold trading industry.
The meeting brought together small-scale miners, gold dealers, traditional leaders, and other key stakeholders to discuss the GoldBod initiative, which aims to enhance foreign exchange earnings and curb gold smuggling.
Led by Lawyer Sammy Gyamfi, Acting Managing Director of the Precious Minerals Marketing Company (PMMC), the GoldBod initiative is part of a broader strategy to revitalize Ghana’s economy.
GoldBod: A Game-Changer for Ghana’s Gold Industry
The initiative seeks to formalize the small-scale mining sector, ensuring Ghana maximizes benefits from its gold resources. Once operational, GoldBod is expected to mobilize foreign exchange, accumulate gold reserves, and strengthen the Ghanaian cedi.
The technical committee is currently drafting a legal framework and developing an operational structure to ensure the smooth implementation of GoldBod.
Stakeholders Express Support
Participants at the meeting expressed optimism about the initiative, citing its potential to stabilize the local currency and boost economic growth.
GoldBod has already garnered support from prominent figures, including former Majority Leader Osei Kyei-Mensah-Bonsu and Dr. Steve Manteaw.
In a Facebook post on February 11, 2025, civil society activist Dr. Steve Manteaw commended Sammy Gyamfi and his team for their transparent approach in handling the draft bill. He also praised their willingness to engage stakeholders and accommodate dissenting views.
“I must congratulate Sammy Gyamfi and his team for their openness, willingness to listen, and ability to accommodate dissenting views. My review of the draft GoldBod bill reveals potential regulatory overlaps with the Minerals Commission’s mandate, which must be addressed. Act 703 of 2006 will need amendments to avoid conflicts,” Dr. Manteaw noted.
Source: Ghana/StarrFM103.5FM/Benjamin Sackey
