Gold is Ghana’s new engine licensed buyers pledge to boost reserves but say: give us a revolving fund and stop the robberies.
Licensed gold buyers in the Amenfi East Municipality have pledged to support the government’s economic recovery agenda by increasing gold purchases to boost national reserves, describing gold as the new backbone of the Ghanaian economy ahead of traditional exports such as cocoa and timber. Speaking to Asona Dehyie Kwateng, prominent licensed gold buyer Michael Oduro said buyers were committed to helping stabilize the cedi through increased gold transactions but appealed to the government to establish a revolving fund to improve liquidity for consistent purchases. He also raised concerns over rising armed robbery attacks on gold buying centres and called for enhanced security protection. Meanwhile, small-scale miner Kwame Arhin accused some taskforce operatives of harassment and extortion, while the Public Relations Officer for small-scale miners in the Western Region, Joshua Armoh Ofori, criticised delays and bureaucratic hurdles at the Minerals Commission, warning that the challenges push many miners into illegal operations. The stakeholders urged the government to improve security, simplify licensing procedures and provide financial support to help maximize gold revenue and strengthen the national economy.
