The Managing Editor of The Herald Newspaper, Larry Dogbey, has warned that the government’s failure to engage stakeholders adequately in the formulation and implementation of the Ghana Gold Board (GoldBod) initiative could undermine its effectiveness.
His comment follows the revocation of all gold trading licences issued by the Precious Minerals Marketing Company (PMMC) and the Minister for Mines.
The establishment is in line with the Ghana Gold Board Act (Act 1140), which was passed by Parliament on March 29 and assented to by the President on April 2, 2025.
Speaking on Channel One TV’s Breakfast Daily on Tuesday, April 15, Dogbey raised concerns about the limited consultation with key players in the gold trading sector before the introduction of Goldbod as the new regulatory framework.
According to him, without proper communication and understanding, many affected persons will struggle to comply with the new system.
“I think a lot of things are being rushed, and the GoldBod is one of them. I do not think the engagement process has been enough. I think the government could have engaged more stakeholders in the passage and formulation of the act.
“This is what is at stake, and this is what we want to correct. If the message is not well communicated to the people, they still find it difficult to understand the structure of the whole thing,” he said.
All small-scale mining companies and gold dealers previously licensed by PMMC are now required to re-register with the GoldBod before the May 1 deadline.
However, Dogbey cautioned that the short timeline and lack of widespread stakeholder education could set the stage for confusion and non-compliance.
“I heard again that you have until the 30th of April, all the licences given out will not be operative. I think that this is too short a time for any meaningful engagement process to happen. Unless the people under the PMMC licences are not much, but if you do the number of people involved, I think a three-month process could just be enough for people to now meet your demand. But when you cut it short like that, it’s a mad rush. Although you meant well, people do not get the clarity as far as this whole thing is concerned. I think that the engagement must be broadened,” he added.