Stories and facts

The GoldBod initiative is a government-led effort aimed at formalizing Ghana's gold trading sector, particularly focusing on small-scale mining, and promoting traceability within the industry.

The goal is to solidify Ghana’s standing as a responsible and transparent gold producer on the global market.

This initiative seeks to formalize the small-scale gold mining sector, enhance regulation and sustainability within the industry, improve the country’s foreign exchange reserves, combat gold smuggling, stabilize the Ghanaian cedi, boost investor confidence, and ensure effective marketing and management of Ghana’s gold resources for the benefit of all Ghanaians.

Under the initiative, the Ghana Gold Board (GoldBod) is intended to be the exclusive buyer of gold from licensed small-scale miners, operating through accredited aggregators, and the sole assayer of gold in the country.

The Gold Board Bill 2025, passed by Parliament on March 28, 2025, provides the legal basis for regulating the gold sector. It focuses on overseeing the buying, selling, and export of gold to enhance transparency and formalization of the gold trade and significantly contribute to Ghana’s economic growth.

The Ghana Gold Board was initially established by former President John Dramani Mahama as part of his administration’s economic revitalization agenda.

It was a key promise in the National Democratic Congress (NDC) 2024 manifesto, designed to regulate and market Ghana’s gold resources for national benefit.

President Mahama appointed Sammy Gyamfi, the NDC Communications Officer, as the acting Managing Director of the Precious Minerals Marketing Company (PMMC), tasking him with setting up and operationalizing GoldBod under the supervision of the Minister of Finance.

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