Ghana’s newly established Ghana Gold Board (GoldBod) is a significant regulatory body created under the Ghana Gold Board Bill 2025, which was passed by Parliament on March 28, 2025.
The idea was implemented by the NDC government spearheaded by His Excellency John Dramani Mahama
The board is tasked with overseeing, monitoring, and regulating the buying, selling, and export of gold and other precious minerals in Ghana.
It aims to formalize small-scale gold mining, improve transparency and traceability, and secure London Bullion Market Association (LBMA) certification for Ghanaian gold.
GoldBod will be the sole exporter of gold from Ghana’s small-scale mining sector, replacing private licensed traders and bullion dealers
The Institution is expected to boost foreign exchange earnings and stabilize the Ghanaian cedi by ensuring better revenue collection from gold exports
Critics, particularly the Minority in Parliament, argue that the bill could legitimize illegal mining (galamsey) due to insufficient safeguards
The government allocated GH₵4.6 billion to the policy, which the opposition claims should have been directed toward agriculture or women’s banking instead
The bill was passed amid strong opposition, with the Minority staging a walkout during deliberations, protesting the rushed approval process
Hon Kyei Mensah Bonsu has also openly criticized the new establishment. Not only did he criticize it, he also singled out the head of the organization (Sammy Gyamfi), citing he has no experience or expertise in that field to handle such a critical and newly formed institution.
He labelled “Goldbod” “job for the boys” and one that will not yield much results.
