Tanzania has gained valuable lessons on mining sector reforms following an official study visit by the Tanzania Mining Commission to the Ghana Gold Board (GoldBod), an institution credited with transforming Ghana’s gold trade and strengthening its contribution to the national economy.
The visit brought together officials from the Tanzania Mining Commission and senior management of GoldBod, led by its Deputy Chief Executive Officer, Professor Richard Nunekpeku, with the aim of learning practical approaches to formalising gold trade, particularly among artisanal and small-scale miners.
During the engagement, the Tanzanian delegation learned that GoldBod has put in place strong institutional systems that integrate small-scale miners into the formal economy.
These measures have significantly reduced gold smuggling and fraudulent trading practices, increased government revenue and foreign exchange earnings, and strengthened the gold reserves of the Bank of Ghana.
Professor Nunekpeku explained that for many years small-scale miners operated outside the formal system, resulting in substantial revenue losses.
He said the establishment of GoldBod ensured that all gold produced in Ghana is collected, verified and traded through legal channels, thereby enhancing transparency, boosting national income and supporting currency stability.
As part of the programme, the Tanzanian officials also toured GoldBod’s Gold Jewelry Unit, which is responsible for the manufacturing, certification, hallmarking and export of jewellery products.
The unit was highlighted as a key driver of value addition in Ghana’s gold sector and a strategic link in strengthening the mineral value chain.
The visit underscored the importance of regional cooperation in Africa in managing mineral resources.
Through GoldBod’s experience as the sole institution mandated to buy, sell, assay, certify, value and export gold and other precious minerals Tanzania has obtained practical insights expected to support ongoing efforts to strengthen governance of mineral trade and maximise the sector’s contribution to national development.