Archbishop Nicholas Duncan-Williams has called on Ghanaians to pray for the Ghana Gold Board (GoldBod). He warned that the institution faces a "very powerful movement" opposed to efforts to ensure proper regulation in Ghana’s gold sector.
The General Overseer of Action Chapel International stated that individuals involved in the gold trade are concerned about tightening controls on illegal gold purchases. These operators are now seeking alternative channels to access Ghana’s gold. The Archbishop revealed he received calls from countries where Ghanaian gold was previously bought illegally, with some individuals seeking connections to senior officials within GoldBod.
This situation fits into a broader narrative of Ghana’s struggle with illegal mining, known as 'galamsey', and illicit gold exports. The country has long grappled with significant revenue losses due to unrecorded gold sales. Efforts to formalize the sector and increase state control over gold resources are crucial for national economic stability. The Bank of Ghana, for instance, has been working to increase its gold reserves through domestic purchases, aiming to strengthen the cedi and improve economic resilience.
Archbishop Duncan-Williams stated, “They can't get the gold like before illegally, so they want some channels to the Gold Board so they can purchase the gold now from the Gold Board.” He expressed concern that GoldBod might be dealing with highly influential individuals possessing extensive knowledge of the gold industry and substantial financial resources. He added, “It’s clear to me that the Gold Board is dealing with a very powerful movement—people very, very established who know and understand the field and how to do this and don’t want the right thing to be done.”
The implications of this challenge are significant for Ghana’s economy and natural resources. If illegal operators succeed in corrupting official channels, it could undermine efforts to formalize the gold sector and curb illicit financial flows. Decision-makers and market observers will closely watch GoldBod’s ability to resist these pressures and enforce regulations. The integrity of Ghana’s gold trade directly impacts foreign exchange earnings, government revenue, and the fight against environmental degradation caused by illegal mining. Protecting GoldBod from undue influence is vital for Ghana's economic future and resource management.
The Archbishop also recounted a disturbing revelation from members of a Middle Eastern ruling family. He was told that the quantity of Ghanaian gold received through illegal channels was three times greater than the amount Ghana’s government officially recorded as sold to that country. This stark discrepancy highlights the massive scale of illicit gold exports and the associated loss of revenue for Ghana. Such losses deprive the nation of critical funds for development projects and public services.
He further alleged that the individuals behind this extensive illegal trade were highly influential and possessed substantial financial resources. This suggests a sophisticated network operating outside official oversight. The preacher linked the illegal gold trade to wider concerns about Ghana’s future, specifically the severe impact of illegal mining on the country’s water bodies, farmlands, and food production. He warned that political considerations must not be allowed to undermine the enforcement of laws designed to protect Ghana’s precious resources. The Archbishop therefore urged Ghanaians to devote time to praying for Ghana and for GoldBod as the institution works to regulate the gold trade and address illegal activities within the sector. He concluded, “We need to intercede for our country.”