Humphrey Ayim-Darke(2nd from left)
The President of the Association of Ghana Industries (AGI), Humphrey Ayim-Darke, has called for greater private sector involvement in the governance and operations of the proposed Gold Board (GoldBod)to ensure its effectiveness and transparency.
Speaking at the KPMG Post-Budget Forum 2025, he emphasized that while the budget presents a stabilization approach, the Gold Board stands out as a key intervention that could influence Ghana’s macroeconomic stability.
Strengthening Governance
Ayim-Darke stressed that for the Gold Board to be successful, it must be structured to avoid inefficiencies that have plagued other state-owned enterprises (SOEs).
He proposed that a private sector wing be incorporated into the board’s governance framework to foster corporate accountability and industry expertise.
“We propose that the Gold Board should include a private sector component in its leadership structure. This will promote transparency, efficiency, and good governance, ensuring that we do not repeat the mistakes of past SOEs,” he stated.
Ensuring Financial Sustainability
While welcoming the government’s allocation of seed capital to the Gold Board, Ayim-Darke noted that financial sustainability and transparency must be prioritized. He warned against the risk of liquidity challenges, citing the cocoa sector’s syndicated loan issues as an example of what must be avoided.
“The initial funding is a positive step, but the real test lies in the execution. Transparency in operations and financial management will be crucial to ensuring that the Gold Board delivers on its mandate,” he noted.
A Call for Policy Innovation
Beyond the Gold Board, Ayim-Darke questioned whether the 2025 Budget introduced truly innovative measures to instill confidence among businesses. He urged the government to take bold steps in policy design to drive long-term economic growth.
The AGI President’s remarks reflect the business community’s cautious optimism while underscoring the need for private sector participation, strong governance, and disciplined execution in implementing the Gold Board initiative.
