Bawah Rock supplied gold under MIIF programme in 2024 – Sammy Gyamfi discloses

Ghana Goldbod Chief Executive Officer Sammy Gyamfi says Bawah Rock Company Limited supplied gold under the Minerals Income Investment Fund (MIIF) programme in 2024.

Mr Gyamfi made the disclosure on Newsfile while responding to criticism from the Minority in Parliament over Goldbod’s licensing decisions involving Bawah Rock.

According to him, Bawah Rock was among key gold suppliers to aggregators under the MIIF gold-for-reserves initiative introduced in 2024 under the previous New Patriotic Party administration.

“This company was a major supplier under the MIIF programme when the NPP was in government,” he said, adding that records exist to support the claim.

His comments come amid growing scrutiny from the Minority, which has questioned Goldbod’s decision to license Bawah Rock as the sole aggregator for the purchase of artisanal gold nationwide.

The Minority argues that the arrangement has weakened competition and raised concerns about transparency and pricing.

Addressing journalists on December 29, 2025, Ranking Member on Parliament’s Economy and Development Committee, Kojo Oppong Nkrumah, said the monopoly risks undermining the integrity of the scheme.

“When competition is removed, you weaken fair pricing, transparency and safeguards against rent-seeking,” he said.

Mr Oppong Nkrumah also raised concerns about the role of Alhaji Bawa, proprietor of Bawah Rock Limited, in becoming the only licensed aggregator. “The questions surrounding how one company became the sole aggregator must be addressed in the national interest,” he stated.

Responding to these concerns, Mr Gyamfi insisted that Bawah Rock’s participation in the MIIF programme predates the current administration and demonstrates its operational capacity.

“This is not a new entrant that suddenly appeared,” he said. “They were active participants in a state-led gold programme under the NPP.”

He maintained that Goldbod’s decisions are based on documented history and regulatory compliance rather than political considerations.

“Facts, licences and performance should guide this discussion,” Mr. Gyamfi said, “not speculation.”