Sammy Gyamfi, Acting Managing Director of the Precious Minerals Marketing Company (PMMC), strongly denied that the GoldBod Bill was rushed. He explained that the legislative process was thorough and consultative, contrary to recent claims.
Assigned by President Mahama and directed by the Finance Minister, Gyamfi oversaw the establishment of the GoldBod. He detailed a rigorous process that involved extensive stakeholder engagements, legislative reviews, and in-depth parliamentary debates.
Structured Consultations and Detailed Drafting
Gyamfi explained that the Finance Minister formed a technical committee, which included representatives from key groups such as the Ghana National Association of Small-Scale Miners, the Chamber of Bullion Traders, the Bank of Ghana, the Minerals Commission, and the Minerals Income Investment Fund. The committee held numerous meetings with industry experts and regulatory bodies. These discussions began with the Finance Ministry and the Ministry of Lands and Natural Resources. A legal consultant was then tasked with drafting the legislative guidelines that later evolved into the bill.
The draft underwent additional scrutiny in consultations with bullion traders, gold dealers, small-scale miners, and civil society organizations. To widen participation, the committee also held regional sessions in Akyem Tafo, Kumasi, and Tarkwa, where local chiefs, miners, and traders reviewed the draft and provided their insights. These contributions helped refine the bill before it was sent to the Attorney-General for final drafting. The involvement of legal experts from the Attorney-General’s office from the beginning ensured the bill’s legal integrity.
Rigorous Parliamentary Debate
The bill’s journey through Parliament showcased one of the most detailed legislative processes in recent times. At the first meeting of the Joint Committee on Finance and Lands and Natural Resources, the NPP minority requested a one-day adjournment to examine the bill further—a request that was granted. During subsequent sessions, the committee debated over 50 amendments proposed by NPP MPs, led by Hon. Mohammed Amin Adam. After a four-hour discussion, some amendments were accepted while others were rejected. Despite these extensive reviews, the NPP minority later claimed that the bill was rushed. Gyamfi refuted these claims, noting that even a respected NPP MP admitted that he had never seen a bill scrutinized as rigorously.
Rebuttal to Opposition Claims
During a press conference, NPP Minority Leader Alexander Afenyo-Markin dubbed the GoldBod as a “Galamsey Board.” Gyamfi dismissed this remark as a misguided partisan stunt. He emphasized that the final bill incorporated several clauses proposed by NPP MPs, including those from Afenyo-Markin himself. Gyamfi maintained that, despite the 68-day turnaround, the GoldBod Bill resulted from diligent work, extensive stakeholder input, and comprehensive parliamentary scrutiny.
Awaiting Presidential Assent
The bill now awaits presidential assent. Supporters believe that it will streamline Ghana’s gold trade, curb illegal practices, and boost state revenue from gold exports. Gyamfi remains confident that history will vindicate the rigorous process behind the GoldBod Bill, calling it a landmark legislation that will bring order to the gold industry and benefit Ghana in the long run.
