The writer
By Prince Adjei – Guy Gee
The establishment of the Ghana Gold Board (GoldBod) has become one of the most debated economic policies in recent months. While government presents it as a game-changer for Ghana’s gold trade, the opposition sees loopholes that must be addressed. Beyond the political banter, Ghanaians are asking one simple question: will GoldBod serve Ghana or party interest?
What Government Says GoldBod Is Doing
According to the NDC government, GoldBod was created as the sole state institution mandated to buy, assay and export gold from the small-scale mining sector. The objective is clear – formalize the artisanal and small-scale mining sector, cut down on smuggling, boost foreign exchange inflows and help stabilize the cedi.
Data from the Ministry of Finance indicates that between January 2025 and May 2026, GoldBod purchased 135.843 tonnes of gold, generating over $10 billion in foreign exchange. For government, this is proof that the model is working.
This position is supported by the Ghana National Association of Small-Scale Miners (GNASSM), which says GoldBod has excluded foreign middlemen from the local gold trade, offered competitive pricing to local miners, and introduced real-time data systems to improve transparency.
What The Opposition NPP Is Saying
The opposition New Patriotic Party (NPP) is not convinced.
Minority Leader Afenyo-Markin has accused the NDC of using GoldBod as a cover to promote galamsey instead of fighting it. The Minority in Parliament also claims Ghana lost $214 million under the Gold-for-Reserves programme in 2025, based on data government submitted to the IMF.
On the back of this, the Minority called for a bipartisan parliamentary inquiry into the operations of GoldBod and the Bank of Ghana’s gold purchases. That motion was, however, blocked by the Majority side through a voice vote on 27th March 2026.
For the NPP, the law needs amendment – particularly definitions like “hoarding” which affect jewellers, traders and other players in the value chain.
What Ghanaians Expect From Both Sides
At the heart of this banter, the ordinary Ghanaian is not interested in NDC versus NPP points. Expectations are higher:
1. From the NDC Government:
Ghanaians expect transparency. If GoldBod is making $10 billion, they want to see how it reflects in reserve build-up, cedi stability and community development in mining areas. They expect GoldBod to fight smuggling without creating a state monopoly that suffocates licensed private traders. And most importantly, they expect a clear separation between the fight against illegal mining and gold trading.
2. From the NPP Opposition:
Ghanaians expect constructive opposition, not just political equalization. If there is a $214 million loss, provide the audit trail. If the Act is flawed, use the Private Member’s Bill route as hinted by Hon. Kojo Oppong Nkrumah and engage stakeholders to propose better amendments. Ghanaians are tired of motions being blocked without explanation from either side.
3. From Both Parties:
The national expectation is simple – de-politicize gold. Gold is Ghana’s biggest foreign exchange earner. GNASSM has already warned that excessive partisan attacks risk destabilizing the small-scale mining sector. Ghanaians expect both NDC and NPP to put Ghana first: keep what works, reform what doesn’t, and publish an independent audit of GoldBod operations for public scrutiny.
In the end, GoldBod should not be an NDC achievement or an NPP target. It should be a Ghanaian institution that survives governments. The earlier both sides realize that, the better for the economy.
About The Author
