By: Efo Witty & Nana K. Roka
YOUNG Ghanaians seeking opportunities in the gold trading business can now enter the sector with as little as GH¢5,000, Chief Executive Officer of the Ghana Gold Board (GoldBod), Lawyer Sammy Gyamfi, has announced.
He said GoldBod had introduced a licensing framework designed to create opportunities for young people to participate in the formal gold trade, stressing that applicants did not necessarily need large amounts of personal capital to begin.
Speaking at the Accra edition of the Loveworld Trade and Investment Forum (LTIF), on the theme “Build The Future Through Production, Trade, Trust and Innovation,” Lawyer Gyamfi outlined four categories of licences introduced by GoldBod.
They are Tier One, Tier Two, Self-Financed Aggregator and Aggregator licences.
According to him, a Tier Two licence costs between GH¢5,000 and GH¢10,000, providing an opportunity for young people to enter the gold trading business through the licensed buying system.
“The game changer is that government is now financing the entire gold trade, so you don’t need any capital of your own. What you need is social capital — your trustworthiness,” he said.
Lawyer Gyamfi explained that licensed Tier Two operators could purchase gold from mining communities under the regulated system and earn commissions paid by the Government of Ghana.
He said, the arrangement was already providing an alternative livelihood for people in mining areas who wanted to participate in the gold value chain without necessarily engaging directly in mining.
“This is what many people in the mining regions are doing. They are not into mining itself, they are just trading the commodity and with the income they make, they acquire small-scale mining concessions,” he noted.
The GoldBod CEO therefore encouraged young people, particularly those in mining communities, to take advantage of the licensing opportunities and become part of Ghana’s formal gold economy.
He urged interested persons to visit the GoldBod website for information on the various licence categories and the application process.
Lawyer Gyamfi was speaking at the LTIF Accra Edition, convened by Loveworld Commerce Minister Madam Stephanie Oforka at the Ohene Konadu Auditorium, UPSA.
Source: Nationaltymes.com
