Parliamentary committee visits GoldBod to assess economic impact

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

The committee's visit focused on evaluating GoldBod's contribution to the economy, particularly in the areas of gold trading, foreign exchange inflows, reserve accumulation and value addition.

Chairman of the Committee, Eric Afful, said the visit formed part of Parliament's efforts to better understand the Board's operations and its impact on Ghana's economic development.

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

He highlighted the Board's licensing framework, funding model, ongoing review of the Ghana Gold Board Act, 2025 (Act 1140), and initiatives aimed at promoting responsible mining, gold traceability and value addition.

Sammy Gyamfi also briefed the committee on GoldBod's partnerships with large-scale mining companies, the Board's gold aggregation performance for 2025 and 2026, and its new trading model.

In a major announcement, the GoldBod CEO disclosed that the Board plans to procure a gold traceability system by the end of August to improve transparency across the gold value chain.

According to him, the new system will enable GoldBod to trace all gold purchased from the mine through to export, strengthening accountability and enhancing the integrity of Ghana's gold trade.