By:Kenneth Appiah Bani.
On Tuesday, February 25, 2025, the leadership of the Ghana Association of Forex Bureau paid a courtesy call on Sammy Gyamfi, the Acting Managing Director of the Precious Minerals Marketing Company (PMMC), at the company’s headquarters in Accra. The meeting focused on collaborative efforts to combat gold smuggling and enhance the formalization of gold trading in Ghana.
During the discussions, both parties acknowledged the detrimental impact of gold smuggling on the nation’s economy and the need for a coordinated approach to address the issue. They agreed to engage further and seek the collaboration of the Bank of Ghana and the Ministry of Finance to develop effective strategies aimed at curbing illicit gold trade.
Sammy Gyamfi, who assumed office as the Acting Managing Director of PMMC on January 20, 2025, has been tasked with overseeing the establishment of the Ghana Gold Board (GoldBod). This initiative aims to formalize the small-scale gold mining sector and provide essential support services to the mining industry, thereby ensuring sustainable management and marketing of the country’s gold resources.
The collaboration between PMMC and the Ghana Association of Forex Bureau is expected to enhance transparency in gold transactions and strengthen the regulatory framework governing the precious minerals sector. By working together, these institutions aim to create a more robust and accountable system that will benefit the national economy and deter illegal activities associated with gold trading.
This partnership aligns with the government’s broader agenda to revitalize the economy through strategic resource management and institutional reforms. The successful implementation of these initiatives is anticipated to bolster investor confidence and promote sustainable development within Ghana’s mining sector.
