The Chief Executive Officer of the Ghana Investment Fund for Electronic Communication (GIFEC), Dr. Rashid Tanko Computer, has expressed strong optimism that Ghana’s newly introduced gold trading regulatory system overseen by the Ghana Gold Board (GoldBod) will play a crucial role in combating illegal gold trade and ensure the nation fully benefits from its mineral wealth.
In an interview with the media, Dr. Tanko Computer pointed out that the previously unregulated gold trade under the now-defunct Precious Minerals Marketing Company (PMMC) created loopholes that allowed illegal mining, popularly known as galamsey, to flourish.
He commended the formation of GoldBod, noting that it introduces a more robust and enforceable framework for regulating Ghana’s gold trading sector.
Dr. Tanko Computer emphasized that under the new regime, only licensed individuals and entities registered with GoldBod will be permitted to engage in gold trading. This, he said, closes the gaps that previously allowed unlicensed dealers to operate without oversight.
The creation of GoldBod and the revocation of all former PMMC-issued licenses are backed by the Ghana Gold Board Act (Act 1140), which was passed by Parliament on March 29 and signed into law by the President on April 2, 2025.
The legislation gives GoldBod comprehensive authority to regulate, monitor, and license gold trading activities, especially within the artisanal and small-scale mining (ASM) sector.
Dr. Tanko Computer further highlighted that this strategic shift is critical to safeguarding Ghana’s natural environment particularly its water bodies and forest reserves which have been severely impacted by galamsey operations.
