GoldBod must turn job gains into lasting prosperity
THE disclosure that reforms introduced by the Ghana Gold Board (GoldBod) have created 4,866 direct jobs in less than two years is welcome news. At a time when unemployment, particularly among young people, remains a major concern, every credible opportunity to expand employment and productive economic activity deserves attention. However, the significance of the figures … The post GoldBod must…
The Ghana Gold Board (GoldBod) has announced the creation of 4,866 direct jobs in the gold sector over the past two years, a development that is welcome given the high levels of unemployment, especially among Ghana's youth. However, the CEO of GoldBod, Sammy Gyamfi, has emphasized that the real significance lies not just in the number of jobs, but in ensuring that these opportunities lead to lasting prosperity.
Out of the total, 361 positions are in the public sector, while 4,505 are in the private sector. These new roles are also generating indirect employment across the gold value chain, with particular benefits for artisanal smelters, jewellers, and young entrepreneurs.
Nevertheless, the true test for GoldBod will be the quality and sustainability of these jobs, as well as their broader contribution to Ghana's economy. It is crucial that the company provides transparent and verifiable data on employment outcomes and ensures that the opportunities are productive and accessible to Ghanaians. This paper advocates that Ghana should move beyond merely extracting and exporting raw minerals.
Instead, the nation must retain a larger share of the value generated from its natural resources by investing in local processing, refining, engineering, equipment supply, and jewellery production. These activities can create more jobs, enhance technical skills, and provide growth opportunities for local businesses.
GoldBod's upcoming Artisanal and Small-Scale Mining Formalisation and Financing Support Programme, set to begin in 2027, is particularly noteworthy. This initiative, which will be co-developed with the Ministry of Lands and Natural Resources and the University of Mines and Technology, could improve productivity and promote more responsible small-scale mining when properly supported with financing, technical assistance, effective regulation, and clear environmental safeguards. However, the success of this programme hinges on its practical implementation.
Additionally, ongoing geological investigations at Funsi in the Upper West Region and Bensere in the Ashanti Region, in collaboration with the Ghana Geological Survey Authority, could bolster Ghana's standing in future mining ventures by providing better insights into mineral deposits and reducing investment risks. Moreover, Gyamfi's suggestion for Ghana to transition from free-carried interests and royalties towards equity ownership in sustainable mines warrants careful examination.
This transition, however, must be executed with sound commercial judgment, competent management, and transparent agreements to safeguard public resources.
In conclusion, while GoldBod's job creation is a positive step, the ultimate goal for Ghana should be to leverage its mineral wealth to improve livelihoods and foster industrial development. It is imperative that GoldBod and its partners now translate these ambitions into tangible results, regularly reporting on jobs created, local participation, value addition, and environmental performance.
The success of these reforms should be measured not by the amount of gold produced, but by how effectively that wealth enhances the lives of Ghanaians.
Written by urgent.news from Ghanaian Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
