Sammy Gyamfi rebuts claims of rushed GoldBod Bill process

The GoldBod Bill has sparked significant political debate in the country. Sammy Gyamfi, Acting Managing Director of the Precious Minerals Marketing Company (PMMC), says it underwent a thorough legislative process. He refutes claims that the bill was passed hastily.

Gyamfi was appointed by President Mahama to help establish GoldBod under the Finance Minister’s direction. He insists that allegations of insufficient due diligence are unfounded.

In his statement, he described a rigorous process involving stakeholder engagement and parliamentary debates. "A broad consultative approach was essential for creating a legal framework," Gyamfi stated.

A technical committee was formed by the Finance Minister. This committee included representatives from key stakeholders like small-scale miners and the Bank of Ghana. They held meetings with industry players to shape the bill’s provisions.

Initial discussions involved experts from the Finance Ministry and later included the Ministry of Lands and Natural Resources. A legal consultant drafted instructions based on these discussions, forming the foundation of the bill.

The draft document underwent consultations with key industry actors, including bullion traders and civil society organizations in mining.

To ensure wider participation, regional consultations were held in Akyem Tafo, Kumasi, and Tarkwa. "Chiefs, miners, and traders reviewed the draft legislation," Gyamfi revealed.

These engagements led to refinements before forwarding it to the Attorney-General for drafting. Drafters from this office were involved from the start to ensure legal soundness.

The final draft received Executive Approval from the President before being presented to Parliament by the Finance Minister.

Sammy Gyamfi described Parliament's review as one of recent history's most rigorous processes. The NPP minority requested an adjournment at their first meeting to study the bill closely.

After this adjournment, they scrutinized every clause thoroughly, leading to several amendments. The NPP side supported establishing GoldBod but wanted assurance that it was fit for purpose.

The consideration process included a crucial session where MPs debated over 50 proposed amendments from NPP minority members. “Several amendments were accepted after extensive discussions,” Gyamfi noted.

Despite comprehensive scrutiny, some NPP members staged a walkout claiming haste in passing the bill. Gyamfi dismissed this claim, stating that even respected NPP MPs acknowledged its thorough review.

Reacting to comments from NPP Minority Leader Alexander Afenyo-Markin calling GoldBod a “Galamsey Board,” Gyamfi labeled them as misguided political stunts.

He pointed out that many clauses proposed by NPP MPs were included in the final bill. "The GoldBod Bill was not rushed; it reflects diligent work and extensive consultations," he asserted.

Now awaiting presidential assent, this bill aims to streamline Ghana’s gold trade and enhance regulatory oversight. Supporters believe it will formalize gold trading and curb illegal activities while maximizing state revenue from exports.

As debates continue, Sammy Gyamfi remains confident about its impact on Ghana's gold industry: "This landmark legislation will bring order and benefit Ghana immensely."