GoldBod faces blowback over poor stakeholder engagement – Larry Dogbey

Larry Dogbey, the Managing Editor of The Herald Newspaper, has issued a warning. He believes the government's lack of stakeholder engagement could harm the Ghana Gold Board (GoldBod) initiative.

His comments come after the Precious Minerals Marketing Company (PMMC) revoked all gold trading licenses. This action aligns with the Ghana Gold Board Act (Act 1140), passed by Parliament on March 29 and signed by the President on April 2, 2025.

On Channel One TV’s Breakfast Daily, Dogbey expressed concerns about limited consultations. He noted that key players in gold trading were not adequately involved before introducing GoldBod as a new regulatory framework.

Dogbey stated that without proper communication, many affected individuals will struggle to comply. He said, “A lot of things are being rushed, and GoldBod is one of them.” He emphasized that more stakeholder engagement was needed during the act's passage and formulation.

He warned that if messages are unclear, people will find it hard to understand the new system. All small-scale mining companies and gold dealers licensed by PMMC must re-register with GoldBod before May 1.

However, Dogbey cautioned about the short timeline for compliance. He said this could lead to confusion and non-compliance among stakeholders. “The deadline is too short for meaningful engagement,” he added.

He suggested a three-month process would be more appropriate for compliance. “When you cut it short like that, it’s a mad rush,” he explained. Although intentions may be good, clarity is lacking in this situation. He concluded that broader engagement is essential moving forward.