Weak governance could undermine GoldBod’s success - Dr Osabutey  

The government’s policy requires large-scale mining companies to sell 30 per cent of their gold production to GoldBod as part of their gold production to GoldBod as part of efforts to strengthen the country’s foreign reserves, support macroeconomic stability and increase the value Ghana derives from its mineral resources.

Dr Daniel Osabutey Dr Daniel Osabutey, a Senior Lecturer at the Business School of Accra Technical University, has cautioned that weak governance and institutional inefficiencies could undermine the Ghana Gold Board’s policy requiring large-scale mining companies to sell 30 per cent of their gold output to the state.

He also identified financing as a major challenge facing the policy, explaining that purchasing 30 per cent of Ghana’s gold output would require substantial and reliable liquidity, saying that delays in payments to mining companies could disrupt their operations, affect production and weaken investor confidence.