The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has announced plans to establish a Gold Village in Accra in 2027.

He says the project will promote gold jewellery manufacturing, create jobs and support industrial growth.

Speaking at a National Mining Dialogue on the theme “Rethinking the Social License to Operate,” Mr Gyamfi said the initiative would form part of efforts to retain more value from Ghana’s gold industry within the local economy.

He said under President John Dramani Mahama’s reset agenda, nearly nine metric tonnes of gold produced in Ghana had been refined locally this year before being exported.

“Under the Reset agenda of President Mahama, this year alone, nearly nine metric tonnes of gold produced in Ghana have been refined in Ghana before export,” Mr Gyamfi said.

According to him, local refining is helping to create sustainable jobs while retaining refinery fees and other associated benefits within the Ghanaian economy.

He said GoldBod would establish the planned Gold Village in partnership with the private sector in 2027, with the facility expected to support gold jewelry manufacturing, gold fabrication, and access to international markets for Ghanaian gold products.

“The planned Ghana Gold Village to be established by the Gold Board in partnership with the private sector next year, 2027, will support world-class gold jewellery manufacturing, gold fabrication, and international markets for Ghanaian gold products,” he said.

Mr Gyamfi explained that the project would be led by GoldBod Jewellery Limited, a subsidiary of GoldBod.

“The implementation of this project will be led by our subsidiary, GoldBod Jewellery Limited, and serve as a platform for skills, enterprise, jobs and industrial growth,” he said.

He added that the project was particularly important to the government. “This is a very important project dear to the heart of the president," Mr Gyamfi said.

The National Mining Dialogue is organised by Asempa 94.7 FM and its flagship programme, Ekosiisen, in partnership with Semmis DS and the Ministry of Lands and Natural Resources.

Ghana seeks to develop gold market

Mr Gyamfi used Dubai’s gold market as an example of how a country can develop a strong gold trading and retail industry.

“You go to Dubai today; they don’t produce gold in Dubai, but they have a gold souk where you can buy all forms of gold, artefacts and ornaments and so on,” he said.

He argued that Ghana should have a similarly developed gold market given its position as a major gold-producing country.

“We are the leading producer of gold in Africa, once called the Gold Coast, and today we are number six in the world, yet we don’t have a gold souk,” he said.

He said the proposed Gold Village would provide a dedicated destination where people could purchase locally manufactured gold jewellery and artefacts.

“And so next year, by the grace of God and with your support under the leadership of President Mahama, we will establish a Gold Village here in Accra where you can buy Made-in-Ghana jewellery and artefacts as a store of value, as a gift, or other forms of value,” he said.

The proposed facility is expected to bring together gold jewellery manufacturing, fabrication and related enterprises while creating opportunities for skills development, employment and industrial growth within Ghana’s gold value chain.