Ghana to Formalise Gold Trading
Ghana seeks to optimise the gold value chain, formalise gold trading, and combat illegal activities in the sector.
The country also aims to regulate and formalise the gold trade, curb smuggling, enhance foreign exchange earnings, and ensure the sector’s long-term sustainability.
In light of that, the Minister for Finance, Dr. Cassiel Ato Forson, inaugurated the Ghana GoldBod Technical Committee to help stabilize the country’s currency through a structured management of Ghana’s gold resources.
Dr Forson highlighted the need for a coordinated approach to address challenges in the fragmented gold market, which is plagued by unregulated operations, smuggling, and foreign exchange loss.
The Committee, consisting of experts from government agencies and the private sector, is tasked with developing a proposed bill and operational framework for the GoldBod initiative.
The GoldBod is expected to bring greater international acceptability to Ghana’s gold and support economic stability and growth.
