Business
GoldBod to Clean Up Ghana’s Gold Trade and Boost Forex Inflows – CEO Sammy Gyamfi

The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has pledged that the newly formed agency will restore order and transparency to Ghana’s gold trade by curbing smuggling and streamlining operations.
Speaking on Channel One TV’s The Point of View during the Mining in Motion Summit on Monday, June 9, Gyamfi noted that extensive consultations with stakeholders showed overwhelming support for a single, central body to regulate the sector—long plagued by disorganization and regulatory gaps.
“All the patriotic Ghanaians we engaged, along with various civil society organizations, viewed the creation of GoldBod as a necessary and urgent intervention to clean up the mess,” Gyamfi said.
He explained that prior to the establishment of GoldBod, multiple state institutions were independently purchasing gold without proper coordination—creating loopholes that enabled rampant smuggling.
“With GoldBod now in place, we have one central agency regulating the sector, issuing licenses to all players, and enforcing a unified code of conduct covering responsible sourcing and legal exports,” he stated.
Gyamfi emphasized that this centralized and structured approach will not only tackle irregularities but also ensure Ghana maximizes its foreign exchange earnings from gold exports—vital for national development.
“This new system guarantees that the country receives the much-needed forex and revenue tied to gold exports, which is crucial for our economic progress,” he noted.
GoldBod was officially established under the GoldBod Act, 2025 (Act 1140), as a key part of the government’s broader strategy to curb illegal gold trading and strengthen Ghana’s foreign reserves.
Business
NEIP and MoFA Partner to Boost Poultry Agribusiness Under Adwumawura Programme

The National Entrepreneurship and Innovation Programme (NEIP) has signed a Memorandum of Understanding (MoU) with the Ministry of Food and Agriculture (MoFA) to scale up support for agricultural entrepreneurs through the Adwumawura Programme.
The partnership seeks to strengthen Ghana’s agribusiness sector by combining MoFA’s technical expertise with NEIP’s entrepreneurship training initiatives.
As part of the agreement, MoFA will provide high-quality poultry feed and deliver technical and field support to programme beneficiaries. NEIP, on the other hand, will equip entrepreneurs with practical business training and essential resources, including hen coops, to help them establish and expand their poultry ventures.
At the signing ceremony, officials from both institutions emphasized that the collaboration is tailored to empower small-scale poultry farmers, especially “nkoko nketenkete” entrepreneurs, to create jobs, grow agribusinesses, and contribute to sustainable economic development.
The initiative falls under NEIP’s broader Reset Agenda, which is focused on driving innovation, supporting small enterprises, and positioning agriculture as a central pillar of Ghana’s economic transformation.
Business
Commercial Transport Operators Threaten Strike Over Soaring Spare Parts Prices

Commercial Transport Operators have issued a stern warning to government, demanding immediate action to reduce the high cost of spare parts or risk facing major disruptions in the transport sector.
In a statement dated September 9, 2025, the operators said they felt “compelled” to call on the Ministry of Transport, Ministry of Trade and Industry, Ministry of Finance, and the Parliamentary Select Committees on Trade, Industry, and Transport to swiftly intervene.
They recalled that in March 2025, during engagements with spare parts dealers and government officials, a promise was made to bring down spare parts prices, but nothing had been done since.
“Unfortunately, this promise has not been fulfilled, and the prices remain exorbitant,” the operators lamented.
The statement further warned: “If immediate action is not taken, we fear that the situation will escalate, and we may be forced to take drastic measures that could disrupt transportation services. We cannot continue to operate under these unsustainable conditions.”
They urged the relevant ministries and parliamentary committees to ensure that spare parts dealers adhere to their commitments, stressing that the survival of the transport industry—and by extension, the economy—depends on swift action.
“Failure to address this pressing issue will have severe consequences for our industry and the economy as a whole,” the statement concluded.
Business
GoldBod Unveils Bold Reforms to Transform Ghana’s Mining Sector

The Chief Executive Officer of the Ghana Gold Board (GoldBod), Mr. Sammy Gyamfi, has announced sweeping reforms and strategic initiatives to position Ghana’s mining sector as a globally competitive and sustainable industry.
Speaking at the maiden edition of the Mining and Minerals Convention at the Kempinski Gold Coast Hotel, Mr. Gyamfi said the GoldBod was driving a paradigm shift from raw mineral extraction to value retention, with the goal of maximising national benefit from Ghana’s mineral wealth.
Between January and August 2025, small-scale gold exports facilitated by GoldBod reached a record 66.7 tonnes valued at $6 billion, surpassing the entire 2024 figure of 63 tonnes worth $4.6 billion. For the first time, small-scale gold exports outperformed large-scale mining exports over the same period.
Key reforms announced include:
Aggressive licensing reforms to promote responsible sourcing.
Scrapping of the 1.5% withholding tax on unprocessed small-scale gold.
Introduction of a nationwide traceability system to ensure transparency and compliance.
Partnerships requiring large-scale miners to supply 20% of their output to the Bank of Ghana for reserve accumulation.
To combat illegal mining, the GoldBod has pledged ₵5 million and five Toyota Hilux pickups to enforcement agencies, alongside a program to reclaim 1,000 hectares of degraded forest reserves beginning November 2025.
On value addition, Mr. Gyamfi announced plans for a state-owned gold refinery and an ISO-certified Assay Laboratory at Kotoka International Airport. Discussions are also underway to establish a “Gold Village” as a continental hub for jewellery production.
Calling for stronger investment, he urged local banks, pension funds, and financiers to channel resources into mining, stressing Africa’s need to transition from raw exports to beneficiation, from middlemen to tech-driven trade, and from youth as labourers to youth as innovators and owners.
“Ghana is resetting and Africa is rising. The GoldBod is ready. All we need now is courage and capital. Let us fund the minerals and mining sector differently. Let us transform it together,” Mr. Gyamfi concluded.
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