Dr. Kwabena Donkor, former Power Minister and mining consultant, has urged Ghanaians to support the newly established Ghana Gold Board, emphasizing its potential to transform the nation’s gold sector.
The initiative, which replaces the Precious Mineral Marketing Company, aims to formalize small-scale mining operations and increase state revenue from gold exports.
In an interview with The High Street Journal, Donkor noted the rare political consensus surrounding the Gold Board’s creation. “What’s remarkable is that this isn’t a partisan issue,” he observed. “Across the political spectrum, there’s agreement that Ghana must capture greater value from its gold resources.” The former minister stressed that while the policy direction enjoys broad support, its success will depend on effective implementation.
The Gold Board’s mandate includes regulating artisanal mining, improving supply chain transparency, and combating gold smuggling. These measures could significantly boost Ghana’s earnings from its mineral resources, which have historically been undermined by illegal activities and inefficient pricing mechanisms. Donkor called for technical expertise and stakeholder cooperation to ensure the initiative delivers on its promises.
Ghana’s gold industry faces persistent challenges, including environmental degradation from illegal mining and revenue losses estimated at billions annually. The new framework seeks to address these issues while creating a more structured market for small-scale miners. With gold prices remaining strong globally, the timing of these reforms could prove advantageous for Africa’s largest gold producer.
The initiative’s rollout comes as Ghana seeks to optimize returns from its natural resources to support economic recovery efforts. Previous attempts to reform the sector have met with mixed results, making this latest effort a critical test of the government’s ability to translate policy into tangible benefits. Industry observers will be watching closely to see whether the Gold Board can overcome implementation hurdles that have hampered similar initiatives in the past.
