Parliament Passes Landmark Gold Board Bill 2025

Accra, Ghana - 31 March, 2025 - Ghana's Parliament has passed the Ghana Gold Board Bill 2025, establishing a regulatory body to oversee the gold industry.

The Gold Board will manage the purchase, sale, and export of gold, aiming to enhance transparency and foreign exchange earnings.

The bill's approval was met with opposition from the minority caucus, who claim it will perpetuate illegal mining activities. Despite this, the majority voted in favor of the bill.

The Majority Leader Mahama Ayariga praised the bill as a groundbreaking law, ushering in a new era of economic growth through a 24-hour economy.

“Mr. Speaker, this is a landmark legislation. And those of us who sat through the night to the morning to pass this historic legislation Bill should be proud of ourselves. We have vindicated the trust and confidence Ghanaians reposed in us.

“Indeed, the 24-hour economy has started in this chamber.”

However, the Minority Leader Alexander Afenyo Markin  voiced concerns that the government isn't doing enough to stop illegal mining, pointing to a substantial allocation of funds to the policy.

“We’re all aware of the challenges we face as a nation, specifically on galamsey. Our friends who are in government made some promises. Today, they are now the Apostles who are promoting galamsey. They are using their numbers to now establish what has become known as Galamsey Board. The government, instead of investing in agric, women’s banking, 24-hour economy policy, it used for the 2204 elections. It’s rather giving GHC4.6 billion to galamsey operators.

“If you say bring an enactment and say your focus is on small-scale mining, all of us in this country know that small-scale mining is galamsey. Is this government really ready to fight galamsey?

“How do you say you’re establishing a new entity that is going to monopolise the purchase of gold from small-scale miners, and now you are going to regulate galamsey and you’re going to give them money?” he stated during a press briefing on March 28.

The Gold Board's responsibilities will include regulating and licensing gold mining and trading activities, ensuring compliance with international standards, and promoting environmental sustainability.

Source: Lead News Online