Goldbod is a conceptually potent proposition – Senyo Hosi

Businessman Senyo Hosi supports the establishment of GoldBod, calling it a strong strategy to regulate and optimize Ghana’s gold trade. He argues that small-scale mining contributes over 40% of gold production, and centralizing trade through GoldBod can ensure full forex receipts and curb smuggling.

He believes GoldBod will enhance quality assurance and branding while avoiding governance failures if transparency is maintained.

Finance Minister Dr. Cassiel Ato Forson announced a $279 million revolving fund to help GoldBod purchase and export at least three tonnes of gold weekly. The initiative aims to boost foreign exchange inflows, gold reserves, and stabilize the cedi.

The Precious Minerals Marketing Company (PMMC) Managing Director, Sammy Gyamfi, expressed optimism about the initiative’s role in economic recovery.