Gold will be traded in a centralized, transparent system – Mahama

President John Dramani Mahama has stated that gold will now be consolidated, traded, and exported through a centralized and transparent system, similar to the cocoa sector.

“Like cocoa, gold will now be consolidated, traded, and exported through a centralized and transparent system,” President Mahama stated.

The Ghana Gold Board (GOLDBOD) will oversee the implementation of this new system, which aims to bring transparency and accountability to the gold industry.

According to Citi Business News, Dr. Mohammed Amin Adam, Minister of Finance, stressed that the launch of the GOLDBOD task force is a crucial step towards promoting transparency and accountability in the gold industry.

The GOLDBOD’s task force, launched on July 8, 2025, will utilize advanced technology, including body-worn cameras and GPS-tracked vehicles, to monitor and respond to gold smuggling activities effectively. This initiative is expected to increase revenue for the government, contribute to economic development, and promote environmental sustainability and social responsibility in the gold industry.

The GOLDBOD’s efforts will create jobs, stimulate economic activity in local communities, and enhance Ghana’s reputation as a responsible gold producer. By managing and utilizing Ghana’s gold resources effectively, the Board aims to promote economic development and social welfare for all Ghanaians.

The GOLDBOD’s initiatives will also focus on promoting responsible mining practices, combating gold smuggling, and ensuring that Ghana’s gold resources are managed and utilized for the benefit of all Ghanaians. The Board’s efforts will be crucial in asserting national sovereignty over Ghana’s mineral wealth and promoting sustainable economic growth.

The GOLDBOD will work closely with other stakeholders, including local communities, mining companies, and government agencies, to ensure that the gold industry is managed in a responsible and sustainable manner. By working together, the GOLDBOD aims to maximize the benefits of Ghana’s gold resources and promote economic development for all Ghanaians.