Parliament has passed the Ghana Gold Board Bill 2025, establishing the Gold Board to regulate the gold industry, enhance transparency and traceability, and boost foreign exchange earnings.
The newly formed regulatory body will oversee the purchase, sale, and export of gold, ensuring efficient management of the sector while generating revenue to stabilise the cedi.
Despite opposition from the Minority Caucus, who criticised the bill for allegedly encouraging illegal mining, commonly referred to as *galamsey*, the legislation was approved by a majority decision.
The Minority contended that the bill lacked adequate safeguards against illicit mining activities and would inadvertently legitimise unlawful operations in the gold sector.
Speaking in support of the bill, Majority Leader Mahama Ayariga described it as a historic piece of legislation.
He commended Members of Parliament for their dedication to its passage, highlighting the effort put into the deliberations.
“Mr Speaker, this is a landmark legislation. And those of us who sat through the night to the morning to pass this historic legislation should be proud of ourselves. We have vindicated the trust and confidence Ghanaians reposed in us. Indeed, the 24-hour economy has started in this chamber,” he remarked.
The passage of the bill was marred by controversy, as the Minority staged a walkout during the consideration process.
Their decision to leave the chamber was in protest against First Deputy Speaker Bernard Ahiafor’s refusal to grant their request to reconvene at 10 am on Saturday, 29th March, to discuss the bill after passing the 2025 Appropriation Bill.
Despite the division in the House, the Ghana Gold Board Bill 2025 now sets the stage for a structured and transparent framework for the country’s gold industry.
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