Omanghana
The Ga Mantse, King Tackie Teiko Tsuru II, has commended the Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, for what he described as impactful operations that have saved Ghana millions of dollars.
The traditional ruler made the remarks during a courtesy visit by the GoldBod executive team to the Ga Mantse Palace in Accra. The meeting focused on issues surrounding gold sector governance, environmental protection, accountability, and the role of traditional authorities in safeguarding national resources.
Speaking during the engagement, King Tackie Teiko Tsuru II praised GoldBod’s operational strategy and its efforts to strengthen oversight within Ghana’s gold trade.
“Your operations have saved Ghana millions of dollars,” the Ga Mantse stated, acknowledging the institution’s role in improving revenue mobilization, streamlining gold exports, and reducing financial leakages within the sector.
The traditional ruler also urged the management of GoldBod to maintain high standards of transparency and accountability while promoting responsible mining practices nationwide.
He expressed deep concern over the environmental destruction caused by illegal mining activities, commonly known as galamsey, and called for stronger collaboration between GoldBod and state authorities to reclaim degraded lands affected by illegal mining.
In a notable proposal, the Ga Mantse suggested that reclaimed mining areas should be transformed into facilities that directly benefit communities, particularly young people. He proposed the development of sports complexes, football fields, astroturf pitches, and recreational parks on rehabilitated lands as part of broader restoration efforts.
The meeting also provided an opportunity for Sammy Gyamfi to brief the traditional council on the mandate and performance of the newly established GoldBod.
According to the CEO, the institution, which replaced the former Precious Minerals Marketing Company (PMMC) under the administration of President John Dramani Mahama, has maintained a strong financial performance despite criticism from some quarters.
GoldBod leadership dismissed allegations of operational losses and revealed that the board had generated more than GH₵960 million in revenue while recording a substantial operational surplus.
The agency is also leading the Ghana Accelerated National Reserve Accumulation Program (GANRAP), an ambitious initiative aimed at strengthening Ghana’s foreign reserves through aggressive gold acquisition strategies.
Under the program, GoldBod seeks to mobilize up to $400 million weekly by purchasing gold from artisanal small-scale miners as well as large-scale local mining companies.
The initiative forms part of broader government efforts to stabilize the economy, strengthen foreign exchange reserves, and maximize the long-term value of Ghana’s mineral resources.
Source: Omanghana
