NDC’s Gold Board is a good initiative — Kyei-Mensah-Bonsu

Former Majority Leader and Member of Parliament for Suame, Osei Kyei-Mensah-Bonsu, has commended the National Democratic Congress (NDC) for introducing the Gold Board initiative.

According to the New Patriotic Party (NPP) stalwart, if properly implemented, the policy will enhance the regulation of gold buying, selling, and export while generating foreign exchange for the country.

Speaking at a public dialogue on the 2025 Budget organized by the Kumasi Bloc NPP Members of Parliament on Monday, March 24, he, however, cautioned that the initiative could fail if the wrong individuals are put in charge.

“It’s a good intent that they’ve expressed. You expect to populate the Gold Board with people with demonstrable competence in commodity trading and so on.

“If you go for someone who, excuse me to say, has no work experience—just a case of ‘jobs for the boys’—are we to give public funds to such persons to manage? If we get it wrong at the very onset, it will be dangerous for us as a country,” he stated.

The Ghana Gold Board, which has its bill laid in Parliament, is a state-owned institution mandated to regulate and promote the development of the country’s gold industry if approved.

Its primary mission is to oversee the gold sector, ensuring that the industry operates in an orderly and sustainable manner while contributing to Ghana’s economic growth.

It will also play a central role in regulating gold mining, fostering economic development, and ensuring the efficient and responsible utilization of Ghana’s gold resources.