Parliament has passed the Ghana Gold Board Bill 2025, paving the way for the establishment of the Gold Board to regulate the gold industry, enhance transparency, and boost foreign exchange earnings.
The board will oversee gold purchases, sales, and exports, with the government expecting the initiative to generate revenue and contribute to stabilizing the cedi. However, the Minority in Parliament strongly opposed the bill, arguing that it would legitimize illegal mining, commonly referred to as galamsey.
Despite their objections, the bill was approved by a majority decision, with the Minority staging a walkout during its consideration. The protest followed the First Deputy Speaker, Bernard Ahiafor, rejecting their request to defer deliberations to Saturday morning after the passage of the 2025 Appropriation Bill.
Addressing journalists after the walkout, Minority Leader Alexander Afenyo-Markin criticized the bill, accusing the government of failing to combat illegal mining. He raised concerns over the allocation of GHC4.6 billion to the policy, suggesting it could benefit illegal miners instead of addressing pressing national needs.
“We’re all aware of the challenges we face as a nation, particularly with galamsey. This government, which once promised to fight illegal mining, is now creating what can best be described as a ‘Galamsey Board.’ Instead of prioritizing agriculture, women’s banking, or the 24-hour economy policy, it is diverting GHC4.6 billion to galamsey operators,” he stated.
Afenyo-Markin further questioned the rationale behind the bill, arguing that monopolizing the purchase of gold from small-scale miners under a new entity could undermine efforts to curb illegal mining.
Meanwhile, Majority Leader Mahama Ayariga defended the bill, describing it as a landmark piece of legislation.
“Mr. Speaker, this is a historic bill. Those of us who worked through the night to ensure its passage should be proud. We have fulfilled the trust Ghanaians placed in us. Indeed, the 24-hour economy has started in this chamber,” he said.
