The Minister for Finance, Dr Cassiel Ato Baah Forson, has officially sworn in a new 13-member Governing Board for the Ghana Gold Board (GoldBoD), marking a key milestone in efforts to strengthen the country’s gold governance architecture.
At a brief ceremony held to swear in the board, Dr Forson, acting on behalf of President John Dramani Mahama, inaugurated the Board and underscored its strategic role in supporting Ghana’s economic stability and enhancing revenue mobilisation from gold.
He described the Gold Board as a critical public institution, positioned to support currency stability and bolster the country’s economic foundation.
“As of May 13, 2025, the Ghana cedi has strengthened by 16.7% against the US dollar since the beginning of the year, compared to a 13.4% depreciation during the same period last year. The cedi was also ranked the best-performing currency in April 2025.”
Dr Forson highlighted, attributing the positive turnaround to stronger fiscal-monetary coordination, increased gold inflows, improved remittances, and stricter public expenditure control.
He added that Ghana’s foreign exchange reserves had now exceeded targets set under the IMF programme, reinforcing optimism about the sustainability of recent gains in currency performance.
The newly appointed Board Chair, Mr Kojo Fynn, speaking on behalf of the members, assured the Minister and the public of the Board’s commitment to transparency, accountability, and inclusive engagement.
“We understand the weight of the responsibility before us, and we are committed to delivering with integrity and fairness,” he said, promising that the Board would uphold sound governance principles and work closely with all key stakeholders in the mining value chain.
The new Board blends sectoral expertise, institutional representation, and presidential nominees with varied professional backgrounds. The appointments were made following consultations with the Council of State and include representatives from the Ministry of Mines, the Ministry of Finance, the Bank of Ghana, the Minerals Commission, large- and small-scale mining groups, and civil society.
Below is the full list of members:
- Mr Kojo Fynn – Chairperson
- Mr Samuel Gyamfi – Acting CEO of the Ghana Gold Board
- Hon. Emmanuel Armah-Kofi Buah, MP – Minister for Lands and Natural Resources
- Hon. Thomas Nyarko Ampem, MP – Deputy Minister for Finance
- Dr Johnson Asiama – Representative of the Bank of Ghana
- Mr Nelson Ahedor – Minerals Commission representative
- Mr Christopher Opoku Nyarko – Representative, Ghana Chamber of Mines
- Mr Godwin Nichelson Armah – Representative, Ghana Small Scale Miners Association
- Mr Kwaku Effah Asuahene – Representative, Chamber of Bullion Traders
- Hon. Shaibu Mahama, MP – Presidential nominee
- Dr Abdul Baasit Aziz-Bamba – Senior Law Lecturer, UG
- Ms Marietta Brew Appiah-Oppong – Legal Counsel to the President
- Nana Ama Amissah III – Paramount Queen Mother, Mankessim Traditional Area
The Ghana Gold Board plays a vital role in formalising the gold trade, ensuring responsible sourcing, and increasing Ghana’s foreign exchange earnings through value-added export systems.
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