GoldBod no longer buying gold for BoG — Sammy Gyamfi
The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, says the institution is no longer operating as a gold-buying agent for the Bank of Ghana (BoG), following the end of the Domestic Gold Purchase Programme (DGPP).
The Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi, has announced that the institution is no longer functioning as a gold-buying agent for the Bank of Ghana (BoG). This change occurred following the conclusion of the Domestic Gold Purchase Programme (DGPP). Gyamfi clarified that GoldBod is now empowered to independently buy and sell gold in Ghana, utilizing the foreign exchange generated from its operations to benefit the BoG.
He emphasized that the transition in mandate signifies that GoldBod should no longer be classified as an agent executing the previous government's Domestic Gold Purchase Programme on behalf of the central bank. In a recent interview on Twitter Spaces, Gyamfi stated that GoldBod's present operations are based on its own statutory mandate, which differ from the earlier arrangement where the BoG purchased gold domestically.
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