Former Majority Leader, Osei Kyei-Mensah-Bonsu has thrown his weight behind the establishment of the Ghana Gold Board (GoldBod), citing its potential to boost the economy.
According to him, the state-run agency which has the exclusive right to buy and sell all Artisanal Small-scale Mining gold through licensed buyers has played a pivotal role the countries positive economic indicators.
The former NPP Member of Parliament for Suame reviewing the current state of the economy on Kumasi-based Lawson Fm hosted by Kwame Tanko, commend government for recording positive figures in the management of the economy.
” On the face of it, you’ll give pluses. Don’t forget, at a point in time, our inflation rose to 50 percent but started reducing from the 12th month and hovered around 21 percent. It has further reduced after NDC took over power to a single digit. To record a single digit inflation, I think it is positive,” he noted
The country’s interest and exchange rates, he mentioned, have also recorded positive successes.
“The interest rate is in the region of eighteen 18/19 and it’s positive even though it could have come down further once the exchange rate had reduced but someone would say “quarter loaf is better than none,” he explained
” The exchange rate,we all know climbed to 16 cedis or so but went down to about 14 cedis. When NDC came it reduced drastically to 10.50,” he added
The Ghana Gold Board since its establishment has been credited by many economists for playing a significant role in driving the country’s economy.
As one of the country’s top exports, gold mining has generated substantial revenue and created employment opportunities.
The government has implemented policies to maximize the benefits from gold mining, such as increasing local content and revenue transparency.
The Ghana Gold Board (GoldBod) generated over $8 billion dollars in foreign exchange from Ghana’s small-scale gold export between January and October 15, 2025.
This significant revenue stream is expected to boost Ghana’s foreign reserves and support the country’s economic recovery efforts.
