Small-Scale Miners Defend GoldBod, Warn NPP and NDC MPs to Stay Off Gold Market
- The Small-Scale Miners Association has urged Parliament to protect the gains made by the Ghana Gold Board (GoldBod), led by Sammy Gyamfi
- The group warned both the NDC and NPP against politicising the gold trade and undermining progress in the artisanal and small-scale mining (ASM) sector
- This comes after the Minority in Parliament demanded a probe into a reported $214 million loss by the GoldBod and Bank of Ghana
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The Ghana National Association of Small-Scale Miners (GNASSM) has urged Parliament to protect the gains made by the Ghana Gold Board (GoldBod), led by Sammy Gyamfi.
In a press statement released on Thursday, January 1, 2026, the small-scale miners raised concerns over the seeming politicisation of the country’s gold market trade and the operations of the GoldBod.
Source: Facebook
It stated that the debates about the GoldBod’s operations are causing adverse effects and derailing miners from contributing to the stability of the economy.
They also cautioned members of Parliament from the ruling National Democratic Congress (NDC) and the opposition New Patriotic Party (NPP) against falling for external influences or short-term political gain to undermine the gains in the artisanal and small-scale mining (ASM) gold trade.
“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,” they were quoted to have said in a GhanaWeb report.
The GNASSM cited the exclusion of foreigners from Ghana’s gold trade, support for ASM, competitive market pricing, and real-time data as some of the successes of GoldBod, which serve the interests of artisanal and small-scale miners in the country.
According to the General Secretary of the GNASSM, Godwin N. Armah, the GoldBod’s structure has enhanced the country’s capacity to buy gold locally, a situation he says has reduced smuggling and illegal activities within the sector.
“In the medium term, 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 added.
As a result of this, the small-scale miners association called on Parliament to focus on supporting the GoldBod and its related institutions to strengthen Ghana’s foreign exchange reserves instead of engaging in needless debates that destabilise the market.
Minority demands investigation into GoldBod losses
The small-scale miners association released this statement in response to the recent press conference held by the Minority in Parliament over the operations of the GoldBod.
Addressing the press on Monday, December 29, 2025, on behalf of the Minority, Kojo Oppong-Nkrumah demanded a bipartisan committee to probe the reported $214 million loss incurred by the GoldBod and the Bank of Ghana.
He stated that the committee should demand that the Bank of Ghana (BoG) and the GoldBod explain their fee structure, pricing mechanisms, aggregator selection criteria, and foreign exchange arrangements in connection with the Gold-for-Reserves programme.
Source: Facebook
Gyamfi responds to Minority over $214M loss probe
Meanwhile, YEN.com.gh reported that Sammy Gyamfi, the CEO of the Ghana Gold Board, had denied claims by the Minority in Parliament over the alleged loss of $214 million.
He argued that the losses had been reduced significantly compared to previous years.
Gyamfi cited audited figures showing reduced losses in 2025 and improved inflation and appreciation under the current administration.
Proofreading by Samuel Gitonga, copy editor at YEN.com.gh.
Source: YEN.com.gh
