By: Sarah Baafi
The Minister for Finance, Dr. Cassiel Ato Baah Forson, has officially inaugurated the 13-member Board of Directors for the Ghana Gold Board (GoldBoD), describing it as a strategic vehicle to enhance currency management and bolster Ghana’s economic resilience.
Speaking at the ceremony, Dr. Forson congratulated the new board on behalf of President John Dramani Mahama and expressed confidence in their mandate delivery.
He highlighted the Ghana cedi’s impressive 16.7% appreciation against the US dollar year-to-date as of May 13, 2025, a remarkable turnaround from last year’s depreciation, crediting robust policy coordination and improved forex inflows from gold, cocoa, and remittances for this success.
“The Ghana Gold Board is a critical tool for economic revitalization and currency stability,” Dr. Forson said. “I am confident the new board, under the able leadership of Mr. Kojo Fynn, will discharge its duties with integrity, professionalism, and a deep sense of national responsibility.” He urged collective efforts to continue building a stronger, more resilient economy.
Chairperson of the Ghana Gold Board, Mr. Kojo Fynn, pledged humility, good governance, and stakeholder engagement in executing their duties.
“We acknowledge the weighty responsibilities enshrined in the Gold Board’s enabling Act and commit fully to delivering on its mandate,” he stated.
The board comprises key figures including Mr. Samuel Gyamfi (Ag. CEO), Emmanuel Armah Kofi Buah (Minister for Lands and Natural Resources), Thomas Nyarko Ampem (Deputy Minister for Finance), Dr. Johnson Asiama (Governor, Bank of Ghana), and representatives from the Minerals Commission, Ghana Chamber of Mines, Small Scale Miners Association, and others.
This inauguration follows earlier efforts to establish the Gold Board as a specialized agency to formalize gold trading, especially from the small-scale mining sector, promote traceability, and curb smuggling – all aimed at maximizing Ghana’s gold resource benefits and stabilizing the cedi.
