GoldBod can never lose money

Social media is filled with posts about Ghana`s GoldBod as the highest, besides the respective ministry or institution dealing with the gold business of Ghana. It is mandated to generate revenues from gold for the Republic of Ghana. Comments suggest it has made a loss in 2025; others post the opposite.

As long as Ghana mines gold, GoldBod can never lose money. Whenever someone wants to sell gold internally or cross-border, he must declare it, and GoldBod takes an agreed percentage of the invoice to the buyer. GoldBod will not have the right to buy or sell any gold, relying only on a set percentage of the sale price between buyer and seller. Buying and selling of gold on behalf of the Republic of Ghana as a source of revenue is only for the BoG to manage.

Cross-border deals can be verified at the official borders of Ghana, and the international market prices are the basis to use on a given day for the percentage the Republic of Ghana gets as its part of the transaction.

GoldBod employs qualified field officers with minimum fixed income and incentives. Working on the ground when detecting irregularities and smuggling of gold outside the given legal framework, the successful field officer gets his share of the revenue secured, feeling motivated to continue the good work for mother Ghana. It is always more than the consequences of legal punishment. Individuals must be at all times protected from revenge by smugglers and illegal miners.

Municipalities and their officials, when reporting illegal mining activities and gold smuggling, must be given extra incentives (projects, funds, national recognition) to outweigh the benefits of galamsey. When they come out with ideas on what should happen after ending galamsey, no ideas have been seen yet; they must be declared national heroes, with streets/buildings named after them, etc.