The Ghana National Association of Small-Scale Miners (GNASSM) has called on Parliament to protect the progress achieved by the Ghana Gold Board (GoldBod) under the leadership of its Chief Executive Officer, Sammy Gyamfi. The association has also cautioned Members of Parliament from both the governing National Democratic Congress (NDC) and the opposition New Patriotic Party (NPP) against politicising Ghana’s gold trade.
In a press statement issued on Thursday, January 1, 2026, GNASSM expressed concern over what it described as increasing political interference in the gold market and the operations of GoldBod. According to the association, sustained public debates and partisan criticisms directed at the institution risk destabilising the artisanal and small-scale mining (ASM) sector and undermining its contribution to national economic stability.
The association warned lawmakers against allowing external pressures or short-term political interests to derail the gains made in the ASM gold trade. GNASSM urged political actors to place the long-term national interest above partisan considerations and to protect reforms that have strengthened the sector.
“GNASSM urges all political actors to safeguard the hard-won gains in the artisanal and small-scale mining (ASM) gold trade rather than undermine them for short-term political interests,” the statement said.
GNASSM highlighted several achievements attributed to GoldBod, including the exclusion of foreigners from Ghana’s gold trade, improved support for small-scale miners, competitive pricing mechanisms, and the introduction of real-time data systems. These initiatives, the association noted, have enhanced transparency and better protected the interests of local miners.
The General Secretary of GNASSM, Godwin N. Armah, stated that the current structure of GoldBod has strengthened Ghana’s ability to purchase gold locally, significantly reducing smuggling and other illegal activities. He added that these reforms could, over time, enable small-scale mining operations to grow into larger and more sustainable enterprises.
“This will support the growth and expansion of small-scale mines into larger operations, thereby strengthening the national economy and improving the social conditions of Ghanaians,” the statement noted.
GNASSM therefore called on Parliament to focus on supporting GoldBod and related institutions to help strengthen Ghana’s foreign exchange reserves, rather than engaging in debates it described as unnecessary and potentially destabilising to the gold market.
The statement follows a press conference held by the Minority in Parliament on Monday, December 29, 2025, during which Minority spokesperson Kojo Oppong Nkrumah called for the establishment of a bipartisan parliamentary committee to investigate an alleged US$214 million loss reportedly incurred by GoldBod and the Bank of Ghana.
According to Oppong Nkrumah, the proposed committee should examine fee structures, pricing mechanisms, aggregator selection processes, and foreign exchange arrangements under the Gold-for-Reserves programme.
In response, GoldBod Chief Executive Officer Sammy Gyamfi rejected the Minority’s claims, describing them as uninformed and unfounded. He stated that audited figures indicate a significant reduction in losses compared to previous years and pointed to improvements in inflation and currency stability under the current administration.
Gyamfi maintained that GoldBod’s operations are on a stronger footing and continue to deliver tangible benefits to Ghana’s economy and the small-scale mining sector.
Source: Yen.com.gh
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