The Minister of Finance, Dr Cassiel Ato Forson, has inaugurated a Technical Committee to spearhead the creation of the Ghana Gold Board (GoldBod), a flagship initiative of His Excellency, John Dramani Mahama, aimed at revitalizing Ghana’s economy and stabilizing the national currency.
At a press briefing in Accra, the Minister of Finance, underscored the importance of the GoldBod as a vehicle to maximize Ghana’s gold resources through structured purchasing and management.

Despite being Africa’s leading gold producer, Ghana has struggled to fully benefit from its gold wealth, with earnings confined largely to royalties and taxes, often at a significant environmental cost.
The GoldBod will address these challenges by formalizing gold trading, particularly from the small-scale mining sector, and ensuring traceability to enhance international market acceptability. This initiative includes the development of a comprehensive legal and operational framework, which the Technical Committee has been tasked to draft.

“The time has come for Ghana to harness the entire value chain of gold—from extraction to refining, value addition, and marketing, both locally and internationally,” the Minister stated.
The current fragmented and unregulated gold purchasing system has resulted in widespread smuggling and foreign exchange losses. Research suggests that in 2024, while Ghana officially exported $5 billion worth of gold from small-scale mining, the value of gold smuggled out of the country was nearly double this figure.

To address these issues, the GoldBod will be granted exclusive rights as the sole buyer, seller, and exporter of gold from the legal small-scale mining sector. It will also implement strong compliance measures to curb black-market activities and smuggling, ensuring 100% repatriation of foreign exchange from gold exports to support the cedi.
The Technical Committee comprises experts from various institutions, including the PMMC, Bank of Ghana, Minerals Commission, and the Attorney-General’s office, among others.
Notable members, include Sammy Gyamfi Esq., Acting Managing Director of PMMC; Dr Abdul Baasit Aziz Bamba, Legal Practitioner; Dr Johnson Asiamah, former Deputy Governor of the Bank of Ghana; and Dr Tony Aubyn, former CEO of the Minerals Commission.

The rest are, Joojo Kakra Bannerman – Head of Financial Markets, Standard Chartered Bank, 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, Bernard Samuel nnan – Head of Field Operations, PMMC, Richard Kofi Afenu Esq. – 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.
Also included are representatives from the Ministry of Finance and the Office of the Attorney-General
The committee’s work will include drafting enabling legislation to solidify the GoldBod’s mandate and amending relevant sections of the Minerals Commission’s export regulations. The government has committed to providing a revolving fund to facilitate the purchase of all gold from the small-scale mining sector.
“This initiative remains a top priority for President John Dramani Mahama and is a critical tool for economic revitalization and currency stability. I urge the committee to work diligently to fast-track this noble objective,” the Minister emphasized.
The GoldBod is expected to promote the traceability of gold, pursue London Bullion Market Association (LBMA) certification, and ensure Ghana maximizes the full benefits of its gold resources. The Technical Committee’s timelines for delivering its recommendations and framework will be shared in the coming weeks.
Industry stakeholders and the general public are being called upon to support this transformative initiative, which is poised to redefine Ghana’s gold sector and strengthen its economy.
Published below is the timeline for the committee’s work.
