Ghana’s gold sector generated the country $2.7 billion in revenue between January and April this year.

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This figure is expected to increase exponentially throughout the year

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President John Dramani Mahama revealed this while speaking at the Global Mining Summit on Monday, June 2.

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He attributed the gains to the introduction of the Goldbod initiative.

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“The Goldbod, a key plank in my administration strategy to reform the gold mining sector and ensure maximum benefit for Ghanaians for our gold resources, has taken off. In its short existence, it has sanitised the gold sector, ensuring maximum returns from our gold export.

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Ghana’s gold export earns the country 2.7 billion. Ghana’s gold export through the PMMC and Goldbod earns the country 2.7 billion dollars between January and April, and this figure is expected to increase exponentially throughout the year,” President Mahama stated.

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Goldbod will oversee the gold sector, tackle illegal trade, and promote responsible sourcing in line with global standards such as the London Bullion Market Association (LBMA) certification.

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Under the new Ghana Gold Board Act, all previously issued licences for gold trading have been rendered void. Traders who wish to stay in business must submit fresh applications via the Goldbod website.

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Applicants have been advised to pay attention to detail when filling out the forms, as inaccuracies could lead to disqualification.

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The Minister for Finance, Dr Cassiel Ato Forson, has established the newly constituted Board of Directors of the GoldBod.

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They are expected to enhance the country's gold trade, ensure transparency in dealings, and aid the government's economic recovery efforts.

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The 13-member Board includes: Mr. Kojo Fynn – Chairperson, Mr. Samuel Gyamfi – Ag. CEO of the Gold Board / Member, Hon. Emmanuel Armah Kofi Buah – MP, Minister for Lands and Natural Resources / Member, Hon. Thomas Nyarko Ampem – MP, Deputy Minister for Finance / Member, Dr. Johnson Asiama – Governor, Bank of Ghana / Member.

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The others are: Mr. Nelson Ahedor – Representative, Minerals Commission / Member, Mr. Christopher Opoku Nyarko – Representative, Ghana Chamber of Mines / Member, Mr. Godwin Nichelson Armah – Representative, Ghana Small Scale Miners Association / Member, Mr. Kwaku Effah Asuahene – Representative, Chamber of Bullion Traders / MemberHon. Shaibu Mahama – MP for Daboya/Mankarigu, President’s Nominee / Member, Dr. Abdul Baasit Aziz-Bamba – Senior Lecturer, UG School of Law, President’s Nominee / Member, Ms. Marrietta Brew Appiah-Oppong – Legal Counsel to the President, President’s Nominee / Member, Nana Ama Amissah III – Paramount Queen Mother and Mankessim Traditional Area, President’s Nominee / Member.

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