By Ebi Kesiena
Ghanaian President John Dramani Mahama has officially inaugurated the Gold Board Task Force, a newly constituted body under the Ghana Gold Board (Goldbod), charged with restoring integrity, accountability, and national control over the country’s gold industry.
Speaking at the launch ceremony, President Mahama emphasised that the creation of the Task Force marks a major policy shift aimed at asserting Ghana’s sovereignty over its mineral resources. Under the Goldbod Act 1140, the Board now holds exclusive rights to purchase and export all gold mined in the country, except gold from large-scale mining companies.
“Through the Goldbod, we are shifting from raw extraction to value addition,” Mahama said, describing the Task Force as “a strategic arm of national economic transformation,” and not merely a security operation.
The President issued a stern warning to smugglers and illegal gold traders, declaring that the government will enforce the law “without fear or favour.”
He also introduced a whistleblower incentive, citizens who provide credible leads that result in arrests or the recovery of gold or cash will receive 10 percent of the value as a lump sum reward.
Addressing members of the Task Force, Mahama cautioned against corruption or abuse of power, stating that any violation of their mandate would result in dismissal, prosecution, and loss of benefits.
The Goldbod Act, passed in 2025, outlines tough penalties for illegal gold trade, including fines of up to GHS 2.4 million, imprisonment for 5 to 10 years, or both. The Act also bans unlicensed local trading and prohibits foreign nationals from buying gold on Ghana’s local market unless they are licensed by the Goldbod.
The President encouraged foreign investors interested in Ghana’s gold value chain to engage through proper channels, such as applying for offtake licences or investing in refining and processing ventures.
The announcement was made in a statement distributed by the APO Group on behalf of the Presidency of the Republic of Ghana.
