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Ghana Gold Board to be established by March 8

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Dr. Cassiel Ato Forson
• Dr. Cassiel Ato Forson

A 19-member Technical Com­mittee tasked to develop a legal and operational frame­work for the establishment of Ghana Gold Board was inaugurated in Accra yesterday.

The Committee is also mandated to draft a bill for the establishment of the Ghana Gold Board, which is expected to be in existence by March 8 this year.

Inaugurating the committee, the Fi­nance Minister, Dr Cassiel Ato Baah Forson, said the Gold Board was a flagship initiative by the President, John Dramani Mahama administra­tion for the economic revitalisation of the economy.

He said the Board was to serve as a vehicle for achieving currency stabili­ty through the structured purchasing and management of Ghana’s gold resources.

“As Africa’s leading gold producer, Ghana derives substantial foreign ex­change earnings from gold. However, the benefits of this valuable mineral remain minimal, often coming at a steep environmental cost,” the Fi­nance Minister stated.

He said historically, Ghana’s reve­nues from gold had been confined to traditional sources, such as royalties and taxes, adding that the Ghanaian economy had not realised the full benefit of its gold resources.

“The time has come for Ghana to expand beyond royalties and taxes by enhancing the entire value chain of gold. As a nation, we must aspire to maximise the full benefit of our gold resources and this involves the optimising of every stage of the value chain, from extraction to refinery, val­ue addition and marketing, both local­ly and internationally,” the Finance Minister stated.

He said the Ghana Gold Board would serve as a specialised agency to ensure effective marketing of the country’s gold resources.

He said the Board would imple­ment programmes to formalise gold trading from a small-scale mining industry and promote traceability with the aim of enhancing interna­tional acceptability of gold from the Republic of Ghana.

Dr Forson said the chaos in Gha­na’s gold purchasing sector prevented the nation from fully benefiting from its gold resources.

He said numerous organisations and individuals were buying gold, stressing that, “This fragmented, un­coordinated, and unregulated system has led to a widespread gold smug­gling and deprived the state of the much-needed foreign exchange.”

“To address these issues, the Ghana Gold Board will be mandated to regu­late and streamline the gold sector, particularly the small-scale gold,” Dr Forson stated.

He said the Ghana Gold Board would act as the sole buyer of gold from the legal small-scale miners.

“Upon its establishment, the Gold Board will also have the exclusive le­gal right as the sole assayer, seller, and exporter of gold from the small-scale gold miner,” Dr Forson stated.

In the year 2024 alone, he said, Ghana exported nearly $5 billion worth of gold from illegal small-scale mining.

However, research indicated that the value of gold smuggled out of Ghana from small-scale mining was nearly double the official figures, stressing the need for the Gold Board to streamline the purchase and export of Gold from the small-scale mining sector.

He said the development of the legal framework would be completed by February 4, 2025 and the establish­ment of the Ghana Gold Board by March 8, 2025.

The Special Legal Advisor to the President, Marietta Brew Appiah said the establishment of the Ghana Gold Board was dear to the heart of the President.

The Acting Managing Director of the Precious Minerals and Marketing Company, Sammy Gyamfi, described the Ghana Gold Board as a noble vision by the President.

The members of the Committee are Sammy Gyamfi; Marietta Agye­iwaa Brew; Dr Abdul Baasit Aziz Bamba, a legal practitioner; and Dr Johnson Asiamah, a former Deputy Governor of the Bank of Ghana.

The others are Dr Tony Au­byn, former CEO of the Minerals Commission; Joojo Kakra Banner­man, Head of Financial Markets at Standard Chartered Bank; and Martin Kwaku Ayisi, CEO of the Minerals Commission.

Also on the Committee are Mr Ernest Asiedu Odami, Director of Corporate Planning at PMMC; Sha­ron Quaye, Head of Business Devel­opment at PMMC; and Mohammed Abubakar, Director of Finance at PMMC, Bernard Samua M. Annan, Head of Field Operations at PMMC; Richard Kofi Afenu, a geologist, mineral economist, and legal practi­tioner; Mr. Kwaku Effah Asuahene, Chairman of the Chamber of Bullion Traders, Ghana, Godwin Nichelsen Armah, General Secretary of the National Association of Small-scale Miners; Roger Kwakye, a gold trading consultant; and a representative from the Office of the Attorney-General.

The rest are Joseph Iroko, Manager of Legal Affairs; Eric Bukari, Man­ager of Small-scale Mining, both of Minerals Commission; Paul Elikplim Bleboo, Deputy Manager of the Gold Desk at the Bank of Ghana, and Kwabena Agyemang Barning, Chief Technical Officer at MIIF.

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 Heritage Month Ghana trends

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Since the institution of the Heri­tage Month celebration in Ghana, it has offered citizens opportuni­ties of a lifetime to learn about their cultures and lifestyles.

Ghana’s version is observed in the month of March, coinciding with the country’s Independence Day celebra­tions on March 6.

Heritage Month features festivals, food fairs, arts, crafts, and music events to highlight the economic and social value of preserving national heritage.

Though a brainchild of the Ghana Tourism Authority (GTA), the celebra­tion has been driven to greater heights by local media with the organisation of several events to create the needed euphoria.

Among the events are the Heritage Caravan and Back To Your Village Food Bazaar pow­ered by Accra-based Citi FM and Citi TV, Wear Ghana Festival and the Gɔbɛ festival powered by 3News.

The Heritage Caravan is a road trip which takes patrons across more than half of Ghana’s regions to offer a distinctive road trip that allows participants to explore the various re­gions of Ghana, providing an up-close encounter with the country’s histori­cal and cultural heritage.

In addition to these roles played by the media, news anchors and other presenters appear on screens immac­ulately garbed in locally made outfits, bringing out the beauty of our tradi­tions.

Today, The Spectator news­paper selected a few of the media personalities that are working to give the cel­ebration a global dimension to project the country.  

 By Andrew Nortey

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 MoMo vendor 24 murdered at Kwadaso

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• Mobile money shop
• Mobile money shop

 A disturbing crime has shaken the Kwadaso Onion market communi­ty in Kumasi, leaving family and friends grieving the loss of a young life.

Identified only as Junior, a 24-year-old mobile money vendor, was found murdered in his room on Saturday, March 8, 2025.

According to eyewitnesses, Junior had returned home the previous day with a substantial amount of money, over Gh¢20,000.

It was suspected that the killers might have been motivated by the large sum of money in Junior’s posses­sion.

A police source that confirmed this to The Spectator, said investigation has been launched into Junior’s mur­der, but so far, no arrests have been made.

The Kwadaso community is reeling in shock, calling for justice and an end to the atrocity that has claimed the life of a young and promising individ­ual.

Junior, is believed to be a native of Ejisu Onwe, and was known to his col­leagues and friends as a hardworking and diligent individual who worked at the Kumasi Race Course.

His tragic death serves as a stark reminder of the risks and challenges mobile money vendors faced.

The incident comes barely a month after Patricia Nimako, a 27-year-old Mobile Money (MoMo) vendor, was shot and killed at Krofrom, Kumasi in the Ashanti region by an unknown assail­ants.

The suspected armed robbers fled with the deceased cell phones and an amount of GH¢10,000 on Thursday, February 13, at approximately 3:00 p.m.

The two armed robbers reportedly stormed the kiosk where the deceased was operating and without any provo­cation shot her dead.

There has not been any arrest yet by the police.

 From Kingsley E. Hope , Kumasi

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 Learn how to prepare local dishes…Queen mothers urge young women

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• Some local dishes

 In a heartwarming display of inter­generational wisdom, queen moth­ers from local communities in the Obuasi enclave shared their expertise on how to prepare local diets with young ladies on the International Women’s Day event, courtesy of An­gloGold Ashanti, Obuasi Mine.

Beyond the fanfare, these revered women leaders took centre stage to impart a vital life skill: traditional cooking as they guided eager students and other young ladies through the art of preparing local delicacies.

In fact, the aroma of ‘Abunabunu’, ‘Aprapransa’, ‘Enuhu’, ‘Akaw’, ‘Tuo Zafi’ (TZ), among others, wafted through the air to the extent it could attract people from a distance, as the queen mothers entertained the young women with tales of resilience, entrepreneurship, and community building.

This year’s International Wom­en’s Day Celebration was under the theme: ‘Accelerate Action for Wom­en’s Equity.’

As the event drew to a close, the queen mothers gave words of wisdom upon their young guests.

From Nana Amoanima Dede, Queen mother of Adansi she stated that: “Never forget your roots, and always remember that the kitchen is not just a place for cooking, but for building connections and forging communi­ties.”

Nana Akua Dwum II, Queen moth­er of Edubiase, on her part urged the young ladies to learn how to prepare traditional dishes in order to preserve cultural heritage of the nation.

Earlier, the Managing Director of the mining company, Samuel Boakye Pobee, mentioned their readiness to roll out an “All-Women Apprentice­ship Programme, aimed at empow­ering young women in the Obuasi communities in entrepreneurship.”

He said the project would include women in basic technical skills and their capacity building to boost their employability to reshape perceptions of women’s roles in traditionally male-dominated industries.

According to the Managing Director, the mining company’s commitment “is to empower young people with specialised skills, and progressive knowledge to make them financially independent.”

The company, he indicated, was accelerating action towards wom­en’s equality at the Obuasi Mine and within host communities with the aim to build a foundation to create an inclusive and supportive business culture.

Mr Pobee expressed the need for innovative approaches and dedicated efforts to encourage and invest in women’s participation in all fields, including all levels of technical and operational areas and must be inten­tional and deliberate.”

 From Kingsley E. Hope, Obuasi

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