New GoldBod initiative to drive economic growth -Ato Forson
New GoldBod initiative to drive economic growth -Ato Forson
The Minister of Finance, Dr Cassiel Ato Forson, has stated that the newly constituted GoldBod is to fully tap into the economic potential of the country’s abundant gold resources.
Speaking during the inauguration of the technical committee to draft a legal framework for the establishment of the Ghana Gold Board (GoldBod), on Monday, January 27, 2024, the Finance Minister noted that the board is to ensure that Ghana capitalises on its rich gold reserves to maximize national economic benefits. With this strategic move, Ghana seeks to unlock greater value from its gold sector and enhance its global standing.
The creation of Ghana GoldBod represents a significant milestone in improving the management and utilization of the country’s gold resources. The agency will oversee and improve gold mining, refining, and export processes, with a particular focus on increasing local value creation and strengthening Ghana’s position in the global gold market.
Finance Minister Dr. Cassiel Ato Forson emphasised that the launch of the Ghana GoldBod is set to foster significant economic growth, attract investment, and increase the country’s overall gold output.
“Historically, Ghana’s revenue from gold has been primarily from royalties and taxes. However, the full potential of our gold resources has not been realized. It is time for Ghana to move beyond these traditional sources and harness the entire gold value chain. As a nation, we must aim to maximize the benefits of our gold resources, from extraction to refining, and from local value addition to international trade.
“The Ghana GoldBod will serve as a specialized agency to market Ghana’s gold resources effectively. This will include formalizing small-scale gold trading and promoting traceability to enhance international acceptance,” he said.
The membership of the technical committee includes;
