The Ghana National Association of Small Scale Miners (GNASSM) has thrown its weight behind the government’s initiative to establish the Ghana Gold Board (GoldBod), aimed at formalizing gold trading in Ghana.
According to GNASSM, the current gold trading sector is “very disorganized and informal,” resulting in significant revenue losses for the state.
The association believes that the establishment of GoldBod will provide the necessary policy framework to transform the gold trading sector and help the country realize the full potential of the small-scale mining sector. This development is expected to stabilize the national currency by becoming the sole buyer, assayer, seller, and exporter of gold from legal small-scale miners.
In a statement jointly signed by the General Secretary and the National Communications Director of GNASSM, Godwin Nickleson Amarh and Abdul-Razak Alhassan, and released in Accra on Tuesday, March 4, 2025, the group lauded the inclusion of representatives of all stakeholders in the gold trading sector on the governing board of the soon-to-be-established GoldBod.
“We are excited by the fact that the governing board of the soon-to-be-established GoldBod will include representatives of all relevant stakeholders. This will ensure that the GoldBod’s operations are inclusive, beneficial to stakeholders, and in conformity with international standards”, the statement in part read.
The statement also revealed that the engagement sessions conducted by the GoldBod technical committee with small-scale miners and other stakeholders have been instrumental in drafting a bill that guarantees fair market pricing for miners. Small-scale miners are fully represented on the GoldBod technical committee, which includes other industry players such as relevant ministries, the Minerals Commission, gold service providers, large-scale mining firms, industry experts, jeweler’s associations, and banks.
GNASSM has pledged to support the government in establishing the GoldBod, which is expected to be launched soon.
The association noted that it is firmly committed to supporting the government in this initiative, stressing that “so far, the GoldBod technical committee is on the right path” with its activities to sanitize the gold trading sector.