Senyo Ok. Hosi
Economist Senyo Hosi has welcomed the institution of the GoldBod by the federal government as a part of the federal government’s technique to manage and optimise the nation’s profit from the commerce in gold and different valuable minerals.
Based on Mr. Hosi, it’s a conceptually potent proposition that when properly applied will inure to the advantage of the nation.
“We’re knowledgeable that the GoldBod shall be accountable for the commerce of 100% of all small-scale mining and can safe for us, our full foreign exchange receipts. I assist it”.
He identified that the centralisation of the commerce presents worldwide patrons with robust choices for high quality assurance and a gap for the marking and distinctive branding of Ghana’s gold, and as such “I don’t see the GoldBod turning into a failure like COCOBOD, if the basic governance, transparency and accountability constructions are competently woven in its implementation”.
“Its regulatory and working framework should movement from current constructions to make market adaptability straightforward. On the coronary heart of its success shall be its industrial sanctity”, he defined.
Based on him, the gold commerce at present doles out reductions of 5 to fifteen% topic to prefinance phrases.
Subsequently, he added that if GoldBod buys throughout the similar market provisions and absorbs the gold export tax of 1.5%, it is not going to simply run a authorities monopoly however will show to be essentially the most optimum industrial companion for small-scale miners and aggregators.
“GoldBod should use its scale and affect to not simply make smuggling unlawful but in addition mindless”, he concluded.
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