You can’t trade gold the same way you trade cocoa – Sammy Gyamfi

In a recent statement, Sammy Gyamfi, the National Communications Officer of the National Democratic Congress (NDC), criticized the government's approach to gold trading in Ghana. He emphasized that treating gold trade with the same strategies as cocoa is misguided and detrimental to the economy. Gyamfi highlighted that while both commodities are vital to the nation’s wealth, their management requires distinct policies tailored to their unique market dynamics.

He pointed out that gold mining has different operational frameworks and profitability structures compared to cocoa farming. By applying a one-size-fits-all strategy, he warned that the government risks undermining the gold sector's potential benefits. This mismanagement could lead to reduced revenue generation for the state and hinder economic growth.

Gyamfi called for a more nuanced approach that recognizes these differences, urging policymakers to develop specific regulations and incentives aimed at maximizing gains from gold exports. His remarks come amid ongoing discussions about how best to leverage Ghana’s natural resources for sustainable development and national prosperity.