Parliament has passed the Ghana Gold Board Bill 2025, creating a new regulatory body for the gold industry. The Gold Board will oversee the purchase, sale, and export of gold, with the aim of enhancing transparency, boosting foreign exchange earnings, and stabilising the cedi.

Despite the government’s backing, the bill faced strong opposition from the minority caucus, who raised concerns that it could fuel illegal mining, locally known as ‘galamsey.’ The bill was approved after a majority vote, following a walkout by opposition MPs.

Majority Leader Mahama Ayariga defended the legislation, calling it a “landmark” decision. “We have vindicated the trust and confidence Ghanaians have placed in us,” Ayariga said, referring to the overnight deliberations that led to the bill’s passage. “The 24-hour economy has started in this chamber,” he added.

The opposition, however, expressed their discontent with the process. Minority Leader Alexander Afenyo-Markin criticised the government for what he described as an insufficient commitment to combat illegal mining. He pointed to the allocation of 4.6 billion Ghana Cedis to the policy, questioning its efficacy in addressing the ‘galamsey’ problem.

“We are all aware of the challenges we face with illegal mining. The government is now using its numbers to establish what is effectively a ‘Galamsey Board.’ Instead of investing in agriculture or policies to support women, they are funding illegal mining operations,” Afenyo-Markin said.

He also questioned the rationale behind the creation of a new entity that would monopolise gold purchases from small-scale miners, which he argued would only perpetuate the illegal mining crisis. “Is this government truly committed to fighting galamsey?” he asked.

The Gold Board is expected to play a key role in regulating the gold sector and ensuring greater accountability in the industry. However, the controversy surrounding its passage underscores ongoing divisions over how best to tackle illegal mining in Ghana.

Source:TheDotNews