Namibian Delegation Visits GoldBod to Benchmark Ghana’s Gold Trading Model

A delegation from the Ministry of Industries, Mines and Energy of the Republic of Namibia has visited the Ghana Gold Board (GoldBod) to study and benchmark its operations as part of efforts by the Namibian government to strengthen the governance and organisation of its mining sector.

The benchmarking and consultation visit provided the Namibian delegation with an opportunity to gain first-hand insight into GoldBod’s institutional mandate, licensing regime, gold purchasing and sales operations, responsible mining initiatives, financial management and compliance mechanisms.

The delegation, led by the Deputy Executive Director and Head of the Department of Mines, described the GoldBod model as a robust framework that could provide valuable lessons for Namibia.

He explained that Namibia’s mining sector currently operates under varying arrangements and standards, noting that the government was seeking to establish greater uniformity across the sector.

According to him, the objective is to ensure that mining companies operating in Namibia adhere to a consistent framework and set of standards, making GoldBod’s experience particularly relevant to the country’s ongoing efforts to strengthen its mining governance architecture.

Receiving the delegation on behalf of GoldBod was the Deputy Chief Executive Officer, Richard Nunekpeku, Esq., who welcomed the team and provided an overview of the institution’s operations and mandate.

Following the welcome address, directors from various departments of GoldBod made detailed presentations on key aspects of the Board’s operations, allowing the delegation to engage directly with the technical and institutional processes underpinning Ghana’s gold trading framework.

The Director of the Legal Department opened the technical sessions with a presentation on GoldBod’s statutory mandate and the legal and regulatory framework governing its operations.

This was followed by a presentation from the Director of Technical Operations, who took the delegation through GoldBod’s licensing regime, as well as its gold purchasing and sales activities.

He explained that GoldBod’s gold purchasing operations are conducted through a structured, tiered system designed to organise participation in the gold trading value chain.

The Director for Responsible Mining and Sustainability, Prof. Ishmael Quaicoe, subsequently briefed the delegation on GoldBod’s efforts to promote responsible gold mining and ensure that gold entering the formal supply chain is produced in accordance with responsible mining principles.

The Director of Finance also presented an overview of GoldBod’s financial operations, including its contribution to foreign exchange inflows and efforts supporting the stability of the Ghanaian cedi.

The final presentation was delivered by the Deputy Commander of the GoldBod Taskforce, who outlined the compliance and enforcement measures being undertaken by the Compliance Directorate and the Taskforce to ensure adherence to Ghana’s gold trading regulations.

At the end of the engagement, the Deputy CEO of GoldBod presented a copy of the GoldBod Act (1140) to the leader of the delegation in order to provide them further insight beyond the visit.

The engagement provided a platform for knowledge exchange between the two countries, with the Namibian delegation gaining insights into the institutional, regulatory, operational and compliance structures underpinning GoldBod’s work.

The visit underscores the growing interest in Ghana’s approach to organising and regulating the gold value chain and reinforces GoldBod’s role as an emerging reference point for discussions on gold governance, responsible mining and value retention in Africa.