The Parliamentary Select Committee on Economy and Development has paid a working visit to the Ghana Gold Board (GoldBod) to gain firsthand insight into the institution’s operations, achievements and strategic direction as part of Parliament’s oversight responsibility.

The visit, held at the GoldBod headquarters in Accra on Tuesday, July 21, 2026, provided Members of Parliament with the opportunity to engage the Board’s leadership on its contribution to Ghana’s economy, ongoing reforms in the gold sector and the challenges confronting the institution.

Leading the delegation, Chairman of the Committee, Hon. Eric Afful, explained that the visit formed part of the Committee’s constitutional mandate to oversee institutions under its jurisdiction, including GoldBod.

He said the Committee sought to assess the impact of GoldBod’s operations on the national economy, particularly in the areas of gold trading, foreign exchange generation, reserve accumulation and value addition.

According to Hon. Afful, the engagement was also intended to deepen the Committee’s understanding of GoldBod’s operational, legal and institutional challenges while identifying areas where Parliament could provide the necessary legislative and policy support to enhance the institution’s performance.

Welcoming the delegation, the Chief Executive Officer of GoldBod, Sammy Gyamfi, Esq., took members through a comprehensive presentation on the evolution of the institution from the Precious Minerals Marketing Company (PMMC) to the Ghana Gold Board under the Ghana Gold Board Act, 2025 (Act 1140).

Mr. Gyamfi outlined GoldBod’s expanded mandate, highlighting its central role in formalising Ghana’s gold trading sector, generating foreign exchange, supporting the accumulation of gold reserves for the Bank of Ghana and driving value addition within the country’s gold industry.

The CEO also briefed the Committee on the institution’s four-tier licensing regime, its funding model, responsible mining initiatives, strategic partnerships with stakeholders and ongoing efforts to strengthen transparency and accountability across the gold value chain.

A major highlight of the presentation was GoldBod’s progress towards implementing a national gold traceability system.

Mr. Gyamfi disclosed that procurement processes for the state-of-the-art digital traceability platform were at an advanced stage, expressing confidence that the system would be procured by the end of August 2026.

According to him, the traceability system will enable GoldBod to digitally track gold from production to export, strengthening efforts to curb the infiltration of illegally mined gold into the formal market while enhancing transparency across the supply chain.

He explained that the initiative would also position Ghana to meet international responsible sourcing standards and improve access to premium global markets, including the London Bullion Market Association (LBMA) market.

The GoldBod CEO further updated the Committee on the institution’s strategic collaboration with large-scale mining companies, recent gold aggregation volumes and the implementation of its new gold trading model aimed at strengthening the country’s gold reserves.

He reaffirmed GoldBod’s commitment to supporting the Bank of Ghana through the Ghana Accelerated National Reserve Accumulation Programme (GANRAP), which seeks to increase Ghana’s gold reserves and strengthen macroeconomic stability.

The engagement afforded members of the Committee the opportunity to seek clarifications on various aspects of GoldBod’s operations, including provisions of the Ghana Gold Board Act that may require future amendments, the institution’s support for responsible mining activities and its corporate social responsibility initiatives.

Committee members also commended GoldBod for the significant progress made within a relatively short period and expressed satisfaction with the institution’s strategic vision for transforming Ghana’s gold sector.

The visit reaffirmed the importance of continued collaboration between Parliament and GoldBod to advance policies and reforms that promote transparency, responsible mining, value addition and sustainable growth within Ghana’s gold industry.