By Sarah Baafi
Ghana’s Parliament has officially passed the landmark GoldBod Bill, a move hailed as a transformative step in the country’s economic history. The bill establishes the Ghana Gold Board (GoldBod), a regulatory body designed to oversee gold trading, stabilize the cedi, and maximize revenue from gold exports.
The Minister of Finance Dr. Cassiel Ato Forson, who announced the bill’s passage, emphasized its potential to revolutionize Ghana’s gold industry. “The GoldBod will ensure that Ghana harnesses the entire gold value chain—from extraction to refining, value addition, and marketing—both locally and internationally,” he stated. This initiative is expected to create jobs, increase revenue, and formalize small-scale mining operations.
The GoldBod will act as the sole buyer of gold from legal small-scale miners, reducing smuggling and enhancing traceability. It will also support Ghana’s efforts to secure certification from the London Bullion Market Association (LBMA), boosting international confidence in Ghanaian gold.
With an allocation of $279 million in the 2025 budget for its operations, the GoldBod is poised to purchase and export at least three tonnes of gold weekly. This initiative aligns with Ghana’s broader goals of stabilizing its currency and ensuring sustainable development in mining communities.
The passage of the GoldBod Bill marks a significant milestone in Ghana’s journey toward economic self-sufficiency and responsible resource management.
