Economic policy analyst, Senyo Hosi
Finance and economic policy analyst Senyo Hosi has expressed confidence in the potential success of the Ghana Gold Board (GoldBod), emphasising that its effectiveness will depend on strong governance, transparency, and accountability.
The Ghana Gold Board is a government-owned regulatory entity established to oversee and enhance the gold industry in Ghana. Its mandate includes ensuring efficiency, sustainability, and alignment with national development objectives to maximize the sector’s contribution to economic growth.
As a key regulator, GoldBod aims to optimise the responsible utilization of Ghana’s gold resources while fostering industry stability.
In an article authored on March 15, 2025 by Senyo Hosi and titled “OUR GOLD AND THE GOLDBOD”, he highlighted the board’s potential to improve quality assurance and elevate the branding of Ghana’s gold on the global market.
“I do not see the GoldBod becoming a failure like COCOBOD if the fundamental governance, transparency, and accountability structures are competently woven in its implementation,” Hosi stated.
He also stressed the need for a well-defined regulatory and operational framework that integrates seamlessly with existing structures to ensure adaptability in the marketplace.
According to Hosi, the board’s commercial viability will be central to its success.
Addressing trade practices in the sector, he noted that gold is currently sold at a 5-15% discount, depending on pre-financing arrangements.
“If GoldBod operates under similar conditions while absorbing the 1.5% gold export tax, it could avoid becoming a government-controlled monopoly and instead serve as a competitive commercial partner for small-scale miners and aggregators,” he noted.
Hosi also emphasised that the board should leverage its position to make gold smuggling not only illegal but unappealing.
Drawing a comparison to the African Star Apple, locally known as “Alasa,” he remarked, “The sweetness is in the sucking. We should focus efforts on how the GoldBod is structured to win. For it fills a begging gap.”
See his full statement below
MA
Watch the latest edition of BizTech below:
Click here to follow the GhanaWeb Business WhatsApp channel