The Deputy Minister for Finance, Hon. Thomas Nyarko Ampem, on Friday, November 7, 2025, inaugurated a new five-member governing board for Ghana Goldbod Jewellery Limited formerly known as PMMC Jewellery Limited at a brief but significant ceremony held at the Ministry of Finance in Accra.
The inauguration marks another major step in Ghana’s renewed commitment to value addition in its gold sector, following the recent restructuring of state-backed institutions under the Ghana Gold Board (GoldBod).
In his address, Deputy Minister Ampem commended the company’s rebranding and expressed optimism that the new leadership would steer the organization toward realizing Ghana’s long-held ambition of maximizing the benefits of its natural resources.
He highlighted the strategic role of the gold industry in Ghana’s economic transformation and revenue generation.
The Deputy Minister stated, “Ghana can now count its gold and curb smuggling,” emphasizing the need for stronger governance and transparency in the downstream sector.
“We must build local interest in Made-in-Ghana gold jewellery and ensure our resources translate into national pride and sustainable livelihoods.”
Hon. Thomas Nyarko Ampem, Deputy Minister for Finance
A New Era for Ghana’s Jewellery Industry
The new board is chaired by Sammy Gyamfi, Esq., who also serves as the Chief Executive Officer of the Ghana Gold Board.
Other members include Gertrude Emefa Donkor, Dr. Edem Cudjoe Amengor, Richard Kwamina Prah, and Adwoa Amankwaah Boateng Appiah.
In his acceptance remarks, Chairman Sammy Gyamfi pledged the board’s commitment to driving innovation, efficiency, and local participation in the gold value chain.
He revealed that the restructured company had received a GHS 30 million injection to support retooling, rebranding, and operational upgrades, signaling a strong government commitment to industrial growth.
“We will maximize returns on Ghana’s gold by adding value and building a strong downstream sector.
“Goldbod Jewellery will be Ghana’s pride, the number one jewellery company in Africa.”
Sammy Gyamfi, Esq., CEO of Ghana Gold Board
According to him, the revamped entity will prioritize refining and melting Ghana’s gold locally, while training young artisans to develop the skills needed to sustain a vibrant gold jewellery manufacturing industry.
“This is not just about gold; it is about creating jobs, empowering local craftsmanship, and making Ghana synonymous with world-class jewellery.”
Sammy Gyamfi, Esq., CEO of Ghana Gold Board
National Pride and Economic Transformation
Ghana, Africa’s leading gold producer, has long grappled with the paradox of exporting raw gold while importing finished jewellery products.
The establishment of Ghana Goldbod Jewellery Limited is seen as a pivotal move to reverse this trend by encouraging value addition, domestic manufacturing, and export diversification.
The Deputy Minister reiterated that the rebranding and new governance framework are backed by bipartisan support, reflecting a shared national vision to strengthen the country’s industrial base.
GoldBod’s new licensing regime began on October 22, 2025. Under this system, all Jewellery and Fabrication Licenses and Refinery Licenses will now be issued by the Ghana Gold Board in accordance with the new law.
As a result, all previous licenses issued by the Ministry of Lands and Natural Resources for gold refinery and fabrication are no longer valid.
Existing operators have until December 31, 2025, to regularize their businesses by applying for new GoldBod licenses.
A Vision for the Future
The launch of Ghana Goldbod Jewellery Limited represents more than a corporate restructuring; it symbolizes Ghana’s aspiration to become a continental leader in jewellery manufacturing and gold refinement.
With strategic investments, strong policy backing, and a clear focus on local value addition, the initiative is expected to enhance exports, reduce illicit trade, and create thousands of jobs within the gold value chain.
Chairman Gyamfi reaffirmed the board’s commitment to transparency and excellence, pledging to make Goldbod a model of corporate governance and innovation in Africa’s mineral sector.
As the new board begins its mandate, optimism runs high that Ghana’s gold will no longer shine brighter abroad than it does at home.
The transformation of Ghana Goldbod Jewellery Limited stands as a testament to the nation’s resolve to reclaim and refine its golden legacy, one necklace, one ring, and one artisan at a time.
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