Former Majority Leader Osei Kyei-Mensah-Bonsu has raised concerns over the competence of individuals mandated to establish the Ghana Gold Board (GoldBod).
According to him, those appointed lack the necessary expertise and experience to ensure efficiency in managing the country’s gold resources.
“It is a good intent that they have expressed. You expect to populate the board with people with demonstrable competencies in commodity trading and so on. If you take people with no work experience—job for the boys—we can’t leave the country’s gold in the hands of such people,” he said.
The former MP warned that any missteps at the initial stage could have dire consequences for the country.
“If we get it wrong at the very outset, it will be dangerous for us as a country,” he added.
He made these remarks at a public dialogue on the 2025 National Budget, organized by the Kumasi Bloc Members of Parliament.
As part of the NDC’s manifesto promise, the GoldBod is being established to regulate the small-scale mining sector. The Acting CEO of the Precious Minerals Marketing Commission, Sammy Gyamfi, is leading the formation of the board, which has been engaging stakeholders in the mining industry.
The Kumasi Dialogue was themed: “Assessing the 2025 Budget: Implications for Kumasi’s Development and the Way Forward.”
Addressing other aspects of the budget, Kyei-Mensah-Bonsu questioned the legality of allowances proposed for Assembly members.
“If the President says he is giving the Assembly members allowances, where is it going to come from? It is going to come out of the public funds, especially the consolidated fund, but the constitution doesn’t allow that,” he said.
He also dismissed the classification of the payments as allowances, stating, “The Finance Minister and Local Government Minister say the amount will be an allowance. That is laughable because the constitution defines emoluments to include allowances.”
On gender-related provisions in the budget, he described the allocation for the proposed women’s bank as inadequate.
“With the capital requirement for the establishment of banks set at GH₵400 million, which was equivalent to $100 million at the time it was determined, what can GH₵51 million, which is now equivalent to $3.2 million, do for the 17 million women of Ghana? Contained in the GH₵51 million is the amount needed to set up the bank,” he noted.
The former MP further indicated that the economic conditions of the Ashanti Region could be improved through proper environmental practices, which would help reduce galamsey and positively impact cocoa and timber production.
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