Dr. Rashid Tanko Computer, the Chief Executive Officer of the Ghana Investment Fund for Electronic Communication (GIFEC), has said that Ghana’s newly introduced gold trading regulatory system overseen by the Ghana Gold Board (GoldBod) will help the fight against illegal mining and ensure that the country benefits hugely from its minerals.
Dr. Tanko Computer argued that the previously unregulated gold trade under the now-defunct Precious Minerals Marketing Company (PMMC) created loopholes that allowed galamsey to flourish.
He commended the formation of GoldBod, noting that it introduces a more robust and enforceable framework for regulating Ghana’s gold trading sector.
Dr. Tanko Computer emphasized that under the new regime, only licensed individuals and entities registered with GoldBod will be permitted to engage in gold trading.
His comments come a day after the Ghana GoldBod released a statement on Monday, April 14, 2025, stating that “all licenses issued by the Precious Minerals Marketing Company (PMMC) and/or the Minister responsible for Mines to a person other than a large scale mining company to deal in gold, have ceased to be valid.”
Part of the statement also announced that all gold transactions within the country must be made in Ghana Cedis and not in any foreign currency.
