By Magdalene Andoh
A 15-member delegation from the Tanzanian Minerals Commission on Tuesday, January 20, 2026, paid a study visit to the Ghana Gold Board (GoldBod) to understudy Ghana’s gold governance and regulatory framework.
The visit formed part of Tanzania’s efforts to modernise the management of its minerals sector, with a particular focus on understanding Ghana’s gold-buying system and regulatory regime.
Leading the delegation, Dr. Theresia Numbi said Ghana was deliberately chosen after a comparative assessment of several countries. She noted that although the delegation had the option to travel outside the continent, they opted to learn from an African country in line with local content considerations.
“Ghana is a pioneer and a centre of excellence in Africa,” she said, adding that the visit created an opportunity for mutual learning, experience sharing, and the exchange of best practices.
The delegation was received by the Deputy Chief Executive Officer of GoldBod, Richard Nunekpeku, Esq., who welcomed the team and provided an overview of the Board’s mandate, operations, and achievements.
Mr. Nunekpeku expressed appreciation to the delegation for selecting Ghana, describing the engagement as a platform for learning, peer review, and collaboration. He explained that GoldBod was established by an Act of Parliament and operates under the Ghana Gold Board Act, 2025 (Act 1140).
He noted that GoldBod’s core mandate includes supporting national gold reserve accumulation and generating foreign exchange, positioning the institution as both a natural resource management body and an economic agency.
According to him, the establishment of GoldBod was driven by the need to formalise Ghana’s gold sector, which had historically operated largely informally, especially within the small-scale mining segment. As part of this formalisation agenda, licensing for gold buying, refining, and jewellery fabrication has been restricted to Ghanaians, in accordance with the provisions of the GoldBod Act.
Mr. Nunekpeku also outlined Ghana’s licensing framework, explaining the four main licensing categories under the regime. He added that GoldBod’s interventions had significantly curtailed the involvement of foreign actors in the gold sector, a challenge that had previously weakened local participation and regulatory control.
While acknowledging that formalising a long-standing informal sector came with challenges, he said GoldBod’s work, within less than a year of its establishment, had already produced notable results.
Members of the Tanzanian delegation engaged the GoldBod team on several issues, including corporate social responsibility initiatives, foreign financing of mining activities, pricing mechanisms, and royalty payments. Mr. Nunekpeku responded by sharing Ghana’s experiences and the strategies adopted to address these challenges.
The delegation expressed satisfaction with the discussions and commended GoldBod for its openness and depth of engagement.
Also present at the meeting were GoldBod’s Director for Mining Operations, Dr. James German; Director for Environmental Sustainability Goals, Prof. Ishmael Quaicoe; and Director for Corporate Affairs, Dr. Ernest Odei.
