Governance expert Siddique Abubakar Suleiman has lauded the NDC government for establishing the GOLDBOD to ensure that the country benefits from the revenue of the precious mineral.
Before the passage of the GOLDBOD Bill 2025 Saturday dawn in Parliament, the Minority staged a walkout, citing the initiative would escalate illegal mining activities in the country.
However, the Acting MD for PMMC, Sammy Gyamfi, whose responsibility is to manage the GOLDBOD debunked the Minority’s claim and explained that the GOLDBOD will be the state’s sole entity that will buy and export gold.
Reacting to the Minority’s claim, Siddique Abubakar urged Ghanaians not to get swayed by the NPP and argued that the GOLDBOD is an initiative that will give the country massive revenue from the extractive sector.
Below is his statement;
SUPPORTING THE GOLDBOD INITIATIVE: A STEP IN THE RIGHT DIRECTION
The clarification provided on the role of the Goldbod is both timely and essential in dispelling misconceptions about its operations.
The assertion that the Goldbod is both a regulator and a commercial player in a way that creates a conflict of interest has been clearly debunked.
The Goldbod’s role as a monopoly in the trading and export of gold is a strategic move aimed at streamlining the industry, ensuring better compliance, and maximizing the benefits derived from Ghana’s gold resources.
Its regulatory oversight is limited to its own licensed agents, ensuring they operate within the framework of its governing Act and regulations. This structured approach will enhance accountability and efficiency in the gold sector.
This initiative is commendable as it promises greater transparency, improved revenue generation, and a more structured gold trade that will benefit the nation.
By ensuring that only authorized agents operate under its guidance, the Goldbod is setting a high standard for professionalism and ethical business practices in the industry.
I look forward to the positive impact this initiative will have on Ghana’s gold sector and encourage all stakeholders to support its successful implementation.
The Goldbod is indeed a step in the right direction, and with collective effort, it can drive significant growth and sustainability in Ghana’s gold trade., the establishment of the Goldbod marks a significant milestone in Ghana’s gold industry. By streamlining operations, ensuring regulatory compliance among its licensed agents, and enhancing transparency, the Goldbod is poised to drive efficiency and maximize the nation’s gold revenue.
Rather than creating conflicts of interest, this initiative provides a structured, accountable, and well-regulated framework that will benefit all stakeholders, from miners to traders and the economy at large.
We commend the vision behind the Goldbod and encourage all industry players to support its objectives. With the right collaboration and commitment, this initiative will strengthen Ghana’s position as a leader in gold trade and contribute to sustainable economic growth.
Bravo to the Goldbod for this transformative step!
