The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, says the institution now has full responsibility for the buying and selling of gold in Ghana as part of a new framework for managing the country’s gold trade.

Mr Gyamfi said GoldBod’s mandate goes beyond purchasing gold on behalf of the Bank of Ghana (BoG), as it now directly manages the domestic gold trade and supplies the foreign exchange generated from gold transactions to the central bank.

He said the new arrangement follows the end of the Domestic Gold Purchase Programme introduced under the previous administration, stressing that GoldBod should therefore no longer be described as an agent of the BoG under that programme.

Speaking on Twitter Spaces on Sunday, August 9, Mr Gyamfi said: “GoldBod is no longer a gold buying agent of the Bank of Ghana. We are now responsible for the buying and selling of gold in Ghana and the forex to Bank of Ghana.”

He added that the change was necessary because the former Domestic Gold Purchase Programme had ended, placing GoldBod’s current gold-buying and selling activities under its own mandate.