Putting gold in hands of inexperienced people dangerous - Kyei-Mensah-Bonsu

Former Majority Leader in Parliament, Osei Kyei-Mensah-Bonsu, has expressed strong concerns about the competence of individuals appointed to oversee the Ghana Gold Board (GoldBod).

Speaking at a public dialogue on the 2025 National Budget, he questioned the ability of these individuals to deliver efficiency due to their lack of work experience.

According to myjoyonline.com, Kyei-Mensah-Bonsu emphasised the need for people with demonstrable competencies in commodity trading to populate the board.

"Putting the country's gold in the hands of inexperienced individuals would be dangerous for Ghana," he warned.

The former Majority Leader also raised concerns about other aspects of the budget, including the legality of assembly members' allowances.

Kyei-Mensah-Bonsu questioned the constitutionality of paying allowances to assembly members, stating that the constitution does not allow it.

On the subject of the budgetary allocation for the Women's Bank, Kyei-Mensah-Bonsu said he deemed the GH¢51 million (equivalent to $3.2 million) financial commitment to the project as inadequate for the 17 million women of Ghana, considering the capital requirement for establishing banks is set at GH¢400 million (equivalent to $100 million).

He also addressed the subject of the economic conditions of the Ashanti Region, suggesting that proper environmental practices, reducing galamsey, and positively impacting cocoa and timber production would improve its fortunes, the report added.

MRA/AE

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