Goldbod CEO announces self-financing model says it’s not anchored on BoG
The Ghana Gold Board (GoldBod) is set to adopt a self-financing model, with the institution expected to fund its operations through financing arrangements with commercial banks and gold offtakers rather than relying on direct financing from the Bank of Ghana (BoG). The Chief Executive Officer, Sammy Gyamfi, says the new model envisaged under the GoldBod […]
Ghana's Gold Board (GoldBod) plans to transition to a self-financing model, with the institution relying on financing from commercial banks and gold offtakers instead of direct funding from the Bank of Ghana (BoG). CEO Sammy Gyamfi stated that this shift is outlined in the GoldBod Act and aims to reduce pressure on the central bank.
Rather than depending on the BoG, GoldBod will collaborate with banks and gold buyers to generate the necessary funds to purchase and trade gold. This new model will enable GoldBod to finance its operations independently, making it more financially sustainable and commercially focused.
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