Licensed gold buyers in the Amenfi East Municipality of the Western Region have pledged their unwavering support to the government’s economic recovery efforts, vowing to maximize gold purchases to bolster national reserves.
This commitment comes at a time when the state has identified gold as the new backbone of the Ghanaian economy, shifting focus from traditional exports like timber and cocoa. However, the buyers warn that their ability to stabilize the economy is being threatened by a lack of funding, rising insecurity, and bureaucratic bottlenecks in the mining sector.
Speaking in an interview with Asona Dehyie Kwateng, Mr. Michael Oduro, a prominent licensed gold buyer, emphasized the strategic importance of their trade. He referenced recent assertions by the Presidency and the leadership of the Gold Board, noting that gold now plays the most critical role in the country’s economic transformation.
“We are ready to do our best to ensure that more gold is purchased and channeled to the government to ensure a stable economy. We recognize our role in providing the cushion the Cedi needs, and we are committed to that goal.”
Despite their patriotic pledge, Mr Oduro highlighted two major hurdles that require immediate government attention. First, he appealed for the establishment of a supporting fund to provide licensed buyers with the necessary liquidity to purchase gold from miners consistently, especially during periods of financial fluctuations.
Secondly, Mr Oduro lamented the frequent and violent armed robbery attacks targeting gold buying centers. They urged the government to deploy security personnel to licensed centers to protect both the lives of the dealers and the high-value assets they handle for the state.*S.O.T MR MICHAEL ODURO*
The challenges at the buying centers are mirrored at the mining sites. Mr Kwame Arhin, Small-scale miner in the municipality have also raised alarms over the conduct of certain taskforce operatives. They alleged that these operatives frequently attack and extort money from them, a situation that disrupts operations and reduces the volume of gold available for the legal market.
Furthermore, the public Relations Officer for Small-scale miners in the Western Region Mr Joshua Armoh Ofori (KGEE), expressed deep frustration over the tough challenge of acquiring mining licenses. They noted that the continuous delays and complex registration processes at the Minerals Commission are counterproductive.
“He posited that these delays at the Commission force many people into illegalities,” he revealed.
“If the government wants to end illegal mining and maximize gold revenue, the authorities must make license and form registration accessible and efficient..
The gold buyers and miners concluded by calling for a more collaborative relationship with the government. They maintain that if the state provides a revolving fund, ensures security, and streamlines the licensing process, the Wasa Amenfi East Municipality can significantly increase its contribution to the national treasury and help restore the strength of the Ghanaian economy.
