Ghana Gold Board's funding and licensing practices under scrutiny 

A recent investigation has raised concerns about the Ghana Gold Board’s (GoldBod) funding arrangements and licensing procedures.

According to a letter from the Ministry of Finance, dated October 29, 2025, “the Ministry has not made any financial releases as budgetary support to the Gold Board.”

Mr Patrick Yaw Boamah, the New Patriotic Party (NPP) Member of Parliament (MP) for Okaikwei Central, told the Parliamentary Press Corps at a news conference in Parliament House on Friday.

He said, “This revelation raises questions about the Gold Board’s funding sources.”

Furthermore, Mr Boamah told the media that examination of GoldBod’s licensing practices had revealed that the board had licensed one sole aggregator, 21 self-financing aggregators, and over 600 buyers in just two years.

He explained that the situation had raised concerns about the due diligence process and whether those companies met the necessary standards for responsible mining.

“It’s essential to ensure that licensed companies adhere to regulations and standards to prevent illicit activities and promote sustainable mining practices,” he said.

He highlighted the need for transparency and accountability in the gold sector.

Mr Boamah noted that the investigation had also found that the GoldBod “is not complying with Section 42 of the Gold Board Act, which requires the board to publish quarterly reports on operations, revenue, contracts, expenditure, and responsible sourcing.”

He has, therefore, called for greater transparency and accountability in the gold sector.

“We need to ensure that the Gold Board is transparent in its operations and funding and that it adheres to the laws and regulations that govern the sector,” he said.

Meanwhile, the Ghana GoldBod is yet to respond to these concerns, but the investigation is ongoing.

GNA