Mahama has ‘reset’ Ghana’s gold sector, strengthened local refining – Sammy Gyamfi
The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, says the administration of President John Dramani Mahama has repositioned Ghana’s gold sector by strengthening the country’s capacity to refine gold locally.
Ghana's gold sector has been "reset" by President John Mahama's administration, according to the CEO of the Ghana Gold Board (GoldBod), Sammy Gyamfi. The reforms introduced under Mahama's administration are aimed at strengthening local refining, value addition, and the management of the country's gold resources. This shift has enhanced Ghana's capacity to refine gold locally, reducing the nation's dependence on foreign refineries.
Gyamfi highlighted that President Mahama's actions have positioned Ghana to derive greater value from its status as one of Africa's leading gold-producing countries. Previously, only South Africa had a London Bullion Market Association (LBMA) refinery; however, Ghana now shares this privilege. The Ghana Gold Board, established in 2025 as part of Mahama's economic initiatives, took over the responsibilities of the Precious Minerals Marketing Company (PMMC) and operates under the Ministry of Finance.
Its mission includes regulating gold trading, assaying, exports, promoting value addition, and combating gold smuggling while supporting small-scale miners and sustainability initiatives.
The government's strategy behind these reforms is to ensure that Ghana captures a larger share of the value generated from its gold resources, generating foreign exchange and supporting the Bank of Ghana's accumulation of gold reserves.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
