Parliamentary Committee Assesses GoldBod’s Impact on Economy During Working Visit

The Parliamentary Select Committee on Economy and Development has undertaken a working visit to the Ghana Gold Board (GoldBod) as part of its oversight mandate to evaluate the institution’s operations, achievements, and strategic direction.

Chairman of the Committee, Hon. Eric Afful, said the visit was to assess the impact of GoldBod’s operations on the economy, particularly in the areas of gold trading, foreign exchange inflows, reserve accumulation, and value addition.

“We are here to understand how GoldBod is performing and how its activities are contributing to the broader economy,” Hon. Afful stated.

Welcoming the delegation, Chief Executive Officer of GoldBod, Sammy Gyamfi, Esq., provided a comprehensive overview of the institution’s transformation from the Precious Minerals Marketing Company (PMMC) into the Ghana Gold Board.

Mr Gyamfi highlighted GoldBod’s licensing framework, funding model, and the ongoing review of the Ghana Gold Board Act, 2025 (Act 1140).

He also outlined initiatives aimed at promoting responsible mining, gold traceability, and value addition within the sector.

The CEO further briefed the Committee on GoldBod’s partnerships with large-scale mining companies, its gold aggregation performance for 2025 and 2026, and the rollout of a new trading model.

In a major announcement, Mr Gyamfi revealed that by the end of August, GoldBod will procure a traceability system that will enable the Board to track all gold purchased from the mine to export.

“The system will ensure full traceability of gold from source to export. This is critical for transparency, responsible sourcing, and meeting international standards,” he said.

The Committee expressed satisfaction with GoldBod’s progress and pledged to support legislative and policy measures that will strengthen the Board’s mandate and contribution to Ghana’s economic development.

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