GoldBod Rejects BoG Proposal for Fiscal Agent Role

The Ghana Gold Board (GoldBod) has not agreed to a proposal by the Bank of Ghana (BoG) to serve as its fiscal agent, according to Sammy Gyamfi, CEO of GoldBod. The BoG had suggested the arrangement as part of discussions on managing GoldBod's financial and foreign exchange-related operations.

Gyamfi emphasized that GoldBod has developed the capacity to undertake its core operations and is no longer dependent on the BoG to act as an intermediary to raise funds. He stated that any future arrangement with the central bank would require careful consideration to ensure the interests of the state are protected.

The discussions between the two institutions come amid changes in their relationship following the end of the Domestic Gold Purchase Programme. Gyamfi maintained that GoldBod's priority remains the efficient management of its mandate and ensuring Ghana derives maximum economic benefit from its gold resources.