Sammy Gyamfi is the CEO of GoldBod
The Minority in Parliament has called on the Ghana Gold Board (GoldBod) to provide clarity on its sources of funding and to publish detailed reports of its activities as required by law.
Addressing the Parliamentary Press Corps on Friday, October 31, 2025, the Member of Parliament for Okaikwei Central, Patrick Yaw Boamah, revealed that despite an earlier government announcement of $279 million to kick-start the Board’s operations, an official response from the Ministry of Finance indicates that no financial releases have been made to the Board since its establishment.
According to a letter from the Ministry dated October 29, 2025, “the Ministry has not made any financial releases as budgetary support to the Gold Board.”
This revelation, the Minority argues, raises serious questions about how the Board has been funding its activities.
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“If you go to the Gold Board website right now, you will not find anything as contained in the Act. The Gold Board came in April, and if April, May, June, July, August, we’ve gone way past a quarter, all this information ought to be there,” Boamah said.
He further expressed concern that while the Board has been active, appointing brand ambassadors and distributing pickup vehicles to institutions, it has failed to comply with Section 42 of the Ghana Gold Board Act, which mandates the publication of operational and financial details on its website.
“What the law requires them to do under Section 42 hasn’t been complied with, and it is very dangerous, especially when the World Bank, the European Union, and other institutions are concerned about where Ghana is headed in the fight against galamsey,” he warned.
The Okaikwei Central MP also questioned the traceability of the gold being managed by the Board.
“Where is the Gold Board getting all that gold from? Is it from responsible mining, from small-scale miners, or from galamsey sites?” he asked.
The Minority caucus contends that the situation undermines the government’s stated commitment to transparency, traceability, and responsible mining, key pillars upon which the Gold Board was established.
They are therefore demanding that the Ghana Gold Board immediately publish detailed reports of its operations, including its funding sources, procurement activities, and gold sourcing channels, to assure the public that it is operating within the framework of the law.
FKA/MA
