Parliament on Friday accredited the Ghana Gold Board Invoice 2025, creating the Gold Board to regulate the gold sector, enhance transparency, and enhance international trade earnings.
The Gold Board is predicted to handle the acquisition, sale, and export of gold and make sure that a bigger share of gold income remained within the nation.
The invoice can be to encourage international financiers in small-scale mining within the nation and scale back losses of gold income to abroad markets.
Regardless of the minority’s opposition to the invoice on accounts of its potential to advertise unlawful mining within the nation, the bulk went forward to cross it.
Majority Chief, Mahama Ayariga, described the invoice as a historic intervention to deal with long-standing points within the extractive sector.
He stated regardless of being wealthy in gold, Ghana continued to battle financially as a result of international gamers managed a big portion of the business.
“We’re sitting on gold, but we’re ravenous,” he stated, stressing how exterior financiers pre-finance small-scale miners and take the gold overseas with out returning the income.
He defined that the brand new Gold Board would substitute the Treasured Minerals Advertising and marketing Firm (PMMC), and tackle further obligations to raised regulate the gold commerce.
“We’re not creating a brand new institution; we’re reworking an existing one to make sure we profit absolutely from our assets,” he clarified.
The bulk chief additionally indicated that the invoice introduces a system the place the Gold Board would act as the only purchaser of gold from small-scale miners.
This transfer, he emphasised, was anticipated to curb unlawful transactions and usher in much-needed international foreign money to stabilise the financial system.
He acknowledged considerations raised by the minority and warranted Parliament that the invoice had undergone intensive amendments to deal with potential dangers.
Furthermore, the Majority Chief famous that the laws aligned with different authorities initiatives, such because the decentralisation of land entry for small-scale miners and the elimination of withholding tax on gold gross sales.
Mr Ayariga recommended members from either side of the home for his or her contributions, saying “We now have an excellent invoice, and we’re assured it can stand the check of time.”
BY RAISSA SAMBOU
