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Ghana’s Parliament has passed the Ghana Gold Board Bill 2025, paving the way for the creation of a Gold Board to regulate the gold industry, enhance transparency, and stabilise the cedi through increased foreign exchange earnings.
The bill, which grants the Gold Board the mandate to oversee the purchase, sale, and export of gold, was passed by a majority decision despite a heated debate and a dramatic walkout by the Minority Caucus.
Majority Leader Mahama Ayariga celebrated the passage of the bill, calling it a historic moment for the country’s mining sector.
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“Mr Speaker, this is landmark legislation. And those of us who sat through the night to the morning to pass this historic legislation should be proud of ourselves. We have vindicated the trust and confidence Ghanaians reposed in us,” he stated.
Ayariga further declared, “Indeed, the 24-hour economy has started in this chamber.”
The Minority Caucus, however, fiercely criticised the bill, arguing it effectively legitimises illegal mining, commonly known as galamsey. The group accused the government of abandoning its promise to combat illegal mining and instead promoting it through legislation.
The minority walked out of Parliament after First Deputy Speaker Bernard Ahiafor denied their request to reconvene at 10 a.m. on Saturday, March 29, following the passage of the 2025 Appropriation Bill.
Speaking to journalists after the walkout, Minority Leader Alexander Afenyo-Markin expressed deep concerns over the government’s approach.
“We’re all aware of the challenges we face as a nation, specifically on galamsey. Our friends in government made promises to fight it. Today, they are the apostles promoting galamsey through this bill. They are using their numbers to establish what is now a Galamsey Board,” Afenyo-Markin charged.
He questioned the allocation of GHC 4.6 billion to the policy, arguing that it incentivises illegal miners instead of curbing the practice.
“If you bring an enactment and say your focus is on small-scale mining, we all know that small-scale mining is synonymous with galamsey. Is this government truly committed to fighting galamsey?” he queried.
Afenyo-Markin also criticised the government’s plan to monopolise gold purchases from small-scale miners, warning that it could worsen illegal mining.
“How do you establish a new entity to monopolise the purchase of gold from small-scale miners, regulate galamsey, and even allocate money to them? This is a worrying development,” he remarked.
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