The Chairman of the Ghana Extractives Transparency Initiative (GHEITI), Dr. Steve Manteaw, has called on Ghanaians to rally behind the Ghana Gold Board (GoldBod), describing the institution as central to Ghana’s long-standing quest to retain greater value from its mineral resources.
In a statement explaining his support for the GoldBod and its Chief Executive Officer, Sammy Gyamfi, Dr. Manteaw said the initiative aligns with his long-held advocacy for reforms that ensure Ghana benefits more meaningfully from its natural resource endowment.
“Let’s support the GoldBod – it holds the key to value retention in Ghana’s mineral sector,” he said, stressing that his position is rooted in both conviction and professional experience.
Dr. Manteaw, a respected civil society leader in the extractives and governance space, noted that his support for the GoldBod is not political but informed by years of engagement with mining and financial sector institutions. He said his work has consistently focused on strengthening state capacity and improving governance outcomes.
“My support for Sammy Gyamfi and the GoldBod experiment is hinged on my conviction and understanding of how Ghana can optimize value from its natural resources.”
Dr. Steve Manteaw, Chairman of GHEITI
He added that agencies within the mining and financial sectors can attest to his readiness to contribute expertise, not just praise, when national interest is at stake.
According to him, the GoldBod represents a rare opportunity to correct structural weaknesses that have allowed foreign interests to dominate gold trading at the expense of the Ghanaian economy.
Tackling Money Laundering in the Gold Sector
A key pillar of Dr. Manteaw’s argument in favour of the GoldBod is its potential role in reducing money laundering risks in the artisanal and small-scale mining sector.
He pointed to the UK-Ghana Gold Programme, supported by the UK Home Office, as an example of how coordinated reforms can improve transparency and compliance.
Through the programme, he said, Ghana has made progress in addressing illegalities within the sector and strengthening systems to detect and prevent illicit financial flows.
“We have helped to address substantial money laundering risks in the sector and helped to prepare the country for its next GIABA mutual evaluation.”
Dr. Steve Manteaw, Chairman of GHEITI
Dr. Manteaw warned that the upcoming GIABA mutual evaluation, which begins this month, carries significant implications for Ghana. The assessment examines money laundering risks and the financing of serious organised crimes.
“There will be consequences for the country if we fail this evaluation,” he cautioned. According to him, an adverse outcome could result in Ghana being grey-listed or black-listed, exposing the economy to sanctions and reputational damage.
He argued that initiatives such as the GoldBod, which seek to formalise gold trading and tighten oversight, are critical in strengthening Ghana’s compliance framework ahead of such evaluations.
Civil Society as Partners, Not Opponents
Addressing perceptions about the role of civil society organisations (CSOs), Dr. Manteaw emphasised, “It is important to understand that CSOs are not set up to fight governments. They are partners in nation-building.” According to him, confrontation only arises when governments become unresponsive to citizens’ demands.
On a positive note, he said CSOs contribute through research, analysis and policy alternatives, citing the GoldBod as an example of reforms civil society actors have supported when properly designed and implemented.
“The GoldBod has recently consulted with key stakeholders on a mutually acceptable discount and will be proceeding to adopt a pricing policy this year.”
Dr. Steve Manteaw, Chairman of GHEITI
He described this as a necessary move to balance competitiveness, transparency and value retention.
Call for Greater Transparency
While expressing support for the institution, Dr. Manteaw also offered advice to GoldBod’s management, urging them to prioritise proactive communication to sustain public confidence.
“Going forward, I will advise the management of the GoldBod to be more proactive in providing information on its activities to sustain public trust in its work.”
Dr. Steve Manteaw, Chairman of GHEITI
He stressed that trading policies should be published and clearly explained in a timely manner.
Dr. Manteaw concluded with an appeal to the public to view the GoldBod through the lens of national interest rather than partisan debate.
“I call on all well-meaning Ghanaians to support this well-intended effort at ensuring that Ghana’s gold benefits Ghanaians and not foreigners.”
Dr. Steve Manteaw, Chairman of GHEITI
As Ghana seeks to reform its extractive sector and strengthen economic resilience, Dr. Manteaw’s endorsement places renewed emphasis on the GoldBod’s potential role in safeguarding national value and improving governance across the gold supply chain.
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