The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has dismissed claims that Bawa Rock Company Limited is not registered or licensed to trade in gold, describing such assertions as false and misleading.

Speaking on JoyNews’ Newsfile on Saturday, January 3, Mr. Gyamfi explained that Bawa Rock is a legally incorporated Ghanaian company with a long-standing presence in the precious minerals sector.

According to him, the company was incorporated on January 15, 2015, under the laws of Ghana, with precious minerals trading listed as one of its principal business activities.

“Bawa Rock Company Limited is a company incorporated under the laws of Ghana. It was incorporated specifically on the 15th of January, 2015. Bawa Rock deals in precious minerals, among others,” he said.

Mr. Gyamfi rejected claims that the company was not registered to trade in gold, stressing that official records prove otherwise.

“When you hear people say that this company has nothing to do with gold trading or was not registered for that purpose, it is not true,” he stated.

He further noted that although the company is registered to undertake multiple business activities, including mining, farming, and general goods trading, dealing in precious minerals remains a key component of its operations.

The GoldBod CEO also dismissed suggestions that Bawa Rock is a recently established or “mushroom” company in the gold trading space.

“This company is also not a mushroom company that just surfaced in the gold trading space,” he said.

Mr. Gyamfi revealed that Bawa Rock was licensed by the Precious Minerals Marketing Company (PMMC) to trade in gold in 2016 and has consistently renewed its licence annually.

“Since 2016, the company has renewed its gold trading licence every year until 2025. Every single year, the company has renewed its gold trading licence,” he added.

He described Bawa Rock as one of Ghana’s major gold suppliers, noting its significant role in supplying gold to aggregators under the Minerals Income Investment Fund (MIIF).

“As a matter of fact, they were one of the major gold suppliers to aggregators under MIIF’s Gold-for-Reserves programme in 2024, when the NPP was in power,” Mr. Gyamfi stated.