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Ghanaian Mining Consultant in USA, Dr. Solomon Owusu has thrown his weight behind the Ghana Gold Board’s (Goldbod) crackdown on gold smuggling, citing the initiative’s potential to cripple illicit activities that have long plagued the country’s gold sector.
In an interview with Nhyira FM in Kumasi, Dr. Owusu praised the Goldbod establishment, mentioning its importance in normalizing the activities of gold transactions in the country. In his view, the board will help boost the government’s revenue generation in gold production, especially from small-scale mining operations.
Also, according to him, the board will help minimize the activities of potential smugglers who have been exploiting Ghana’s gold resources without any benefit to the country.
However, Dr. Owusu raised concerns about the transparency and accountability of Goldbod, stressing the need for measures to ensure transparent purchasing and exporting of the gold. In his opinion, this approach will build confidence in Ghanaians in terms of accountability.
“Transactions shouldn’t be done in secrecy but be transparent for Ghanaians to believe in corruption-free Goldbod”, he emphasized.
Dr. Owusu specifically called for clarity in the supply chain process, supplier selection criteria and disclosure of the off-takers that buy gold from Goldbod.
He asked the board to make the amount of gold purchased and sold per period public. Again, he suggested that the board should create a system to enable Ghanaians to monitor assay results and assess the silver content associated with the gold.
The Ghana Gold Board was established through a bill signed into law by President John Dramani Mahama on April 2, 2025. The law aims to regulate the gold sector, promote sustainable practices, and ensure the traceability of gold. The Gold Board serves as the exclusive buyer of gold from licensed small-scale miners, ensuring fair prices and better working conditions.
The government has emphasized the importance of balancing economic growth with environmental protection, and the Gold Board is expected to play a key role in promoting sustainable mining practices. With the new law now in effect, the government is poised to transform the country’s gold sector.
Dr. Owusu’s concerns highlight the need for Goldbod to prioritize transparency and accountability in its operations, ensuring that the benefits of Ghana’s gold resources are shared equitably among all stakeholders.
Story by Lawrence Odoom
