GoldBod is set to take over the old Bank of Ghana building in Accra to enhance its operations and formalize Ghana’s gold trade. This initiative forms part of the Mahama government’s strategy for better transparency and efficiency in the gold sector, following concerns over illicit activities and valuation issues. GoldBod was established in 2025 to oversee the buying and exporting of precious minerals.
The Ghana Gold Board, commonly known as GoldBod, is gearing up to take over the historical former Bank of Ghana building. This move aims to consolidate the agency’s operations and establish a prominent presence in Accra. According to sources from Asaase News, plans are currently in the works to revitalize the old facility which previously served as the central bank’s headquarters.
GoldBod’s establishment aligns with a broader government initiative, headed by the John Mahama Administration, to bring structure to Ghana’s mineral trade. The agency has a specific focus on overseeing gold trade and export operations. This includes responsibilities such as assay services, export licensing, and purchasing gold, indicating that a secure, central location is crucial for effective management moving forward.
If this takeover is finalized, it would symbolize a significant transition in the governance of Ghana’s gold resources. Rather than being managed by a central bank, the focus would shift actively towards a dedicated regulatory body for minerals. While there hasn’t been an official announcement, insiders say this shift supports ongoing efforts to better manage transparency and efficiency, particularly in light of rampant illicit trading and undervaluation issues in the sector.
The vacant old Bank of Ghana building in Accra Central has seen little use since the central bank moved to its new headquarters at Ridge. This now gives GoldBod a chance to breathe new life into the property.
GoldBod holds exclusive control over all transactions related to gold and other precious minerals in Ghana. Restructured under ACT 1140, which was passed in 2025, the board took over various functions from the Precious Minerals Marketing Company, also known as PMMC. This transition is part of a continued evolution from earlier structures set up as early as 1963.
Over the years, changes were made to the organization that dealt with precious minerals in Ghana, culminating in GoldBod’s establishment. Interestingly, GoldBod arose from in-depth consultations with stakeholders in the industry. Its primary goals include maximizing foreign exchange, boosting gold reserves, and increasing value addition for sustainable economic growth.
In summary, GoldBod is on the verge of making a significant impact by taking over the former Bank of Ghana building in Accra. This move aims to streamline the management of Ghana’s gold resources and bolster governmental efforts to formalize the sector, which has been plagued by issues of transparency and efficiency. As GoldBod steps into this role, it aims to create a more organized approach to gold trading, benefiting the nation’s economy significantly.
Original Source: asaaseradio.com
