Ghana’s President Mahama Inaugurates Gold Board Task Force to Enforce Sovereignty and Value Addition
Ghana’s President Mahama Inaugurates Gold Board Task Force to Enforce Sovereignty and Value Addition
Key Points:
🟣It will enforce the mandate of the Ghana Gold Board (Goldbod).
🟣Goldbod now has exclusive rights to purchase and export all gold produced in Ghana except by large-scale mining firms.
🟣The task force is a strategic economic arm to ensure value addition, integrity, and national sovereignty over mineral wealth.
🟣Warning to illegal operators: The president pledged strict enforcement against gold smuggling and illicit trade.
🟣Whistleblower rewards: 10% of the value involved will be given for leads resulting in arrests or gold/cash retrieval.
🟣Strict penalties under the Goldbod Act: Up to GHS 2.4 million (over $230,200) in fines, 5–10 years imprisonment, or both for violations.
🟣Foreigners are banned from purchasing gold on local markets without a Goldbod license for offtake or investment in value addition.
🟣Mahama warned task force members against any abuse of authority, promising dismissal, prosecution, and forfeiture of entitlements for breaches.
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