GHANA’s GOLD sector is on the brink of a transformation, with the inauguration of the Ghana Gold Board (GoldBod) set to unlock new economic opportunities beyond the traditional streams of royalties and taxes.
Speaking at the inauguration ceremony, Finance Minister Dr. Cassiel Ato Forson underscored the urgency of Ghana leveraging its status as Africa’s top gold producer more strategically.
“The Ghanaian economy has not realized the full benefit of our gold resources. It’s time to expand beyond royalties and taxes by harnessing the entire value chain of gold,” he stated.
To that end, GoldBod’s mandate is ambitious: optimize extraction, refine locally, add value through manufacturing and market Ghanaian gold globally. The Minister described GoldBod as a “specialised agency” designed to lead this strategic shift and increase foreign exchange earnings for national development.
A key focus will be on the small-scale mining industry, which, although critical, has historically operated in the shadows. GoldBod will formalize this sector, ensuring traceability and compliance with international standards, thereby improving global confidence in Ghanaian gold.
Dr. Forson also highlighted how the initiative aligns with President Mahama’s broader economic reforms aimed at resetting Ghana’s economic fundamentals.
“Together, let us help to propel President Mahama’s ongoing reset of Ghana’s economy and our effort to deliver economic prosperity for all Ghanaians.”
Source: Nationaltymes.com
