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Entrepreneur and economic policy analyst Senyo Hosi has outlined the core objectives behind Ghana’s GoldBod, describing it as a strategic monetary policy tool rather than a profit-seeking venture.
According to him, GoldBod was established to generate foreign exchange, support gold reserve accumulation at the Bank of Ghana, and centralise oversight of gold trading activities. “
The rationale is to optimise forex inflows and extract national value from the gold value chain,” he said in an open letter sighted by MyNewsGh.
Hosi explained that GoldBod sources gold mainly from licensed small-scale miners through authorised buyers, paying in cedis based on Bank of Ghana reference rates.
The gold is either exported or transferred to the central bank as reserves.
He argued that this model addresses longstanding weaknesses in Ghana’s resource management, including capital flight and weak traceability. “The objective is economic revitalisation and sustainable growth,” Hosi noted.
For him, the real test of GoldBod lies not in isolated figures but in whether it strengthens reserves, stabilises the economy, and restores control over Ghana’s gold resources.
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