President John Mahama’s 120 Days: GOLDBOD Is Better Than Agyapadie Deal – William Boadi, EAI

President John Mahama’s 120 Days: GOLDBOD Is Better Than Agyapadie Deal – William Boadi, EAI

Ghanaians are once again at a crucial point in our national economic direction, where the decisions of our leaders can either entrench our wealth in foreign hands or empower us to take charge of our God-given natural resources. The return of John Dramani Mahama to leadership comes with renewed hope and decisive action chief among them being the GOLDBOD initiative, which, in my analysis, is far superior to the much-criticized Agyapadie Deal implemented under the former administration.

Understanding GOLDBOD in 120 Days

Within just 120 days of assuming office, President Mahama introduced GOLDBOD (Ghana Gold Board), a groundbreaking initiative aimed at restructuring Ghana’s gold resource management. This initiative prioritizes local ownership, state-led coordination, value addition, and long-term national revenue assurance from the gold industry a sector that has historically been dominated by foreign interests.

GOLDBOD seeks to:

Centralize gold exports under a transparent and accountable national authority.

Strengthen regulatory oversight and eliminate illegal exports and under-declarations.

Ensure that revenues from gold are reinvested into development, job creation, and local industrialization.

Empower licensed Ghanaian small-scale miners through legal protection, training, and access to fair markets.

This marks a bold departure from the “business-as-usual” approach that has kept Ghana rich in gold yet poor in results.

Agyapadie Deal: A Missed Opportunity

The Agyapadie Deal, introduced by the previous administration, promised to be a patriotic partnership model for leveraging Ghana’s mineral wealth. Yet, in reality, it fell short of expectations. Instead of promoting national ownership, the deal:

Entrenched foreign dominance in the gold value chain.

Offered Ghana limited royalties while investors profited immensely.

Was riddled with opacity, raising concerns of exploitation and backroom arrangements.

Failed to boost local capacity, creating an over-dependence on foreign technical expertise and finance.

The core flaw of the Agyapadie Deal was that it commodified Ghana’s mineral resources without a bold, long-term plan to use gold as a pillar of national wealth generation.

Why GOLDBOD Is the Better Alternative

GOLDBOD represents a radical break from the flawed logic of previous deals. It reflects a vision where Ghana doesn’t just mine gold but benefits directly from it through value-added production, formalization of the sector, and strong fiscal mechanisms to prevent revenue leakage.

More importantly, GOLDBOD is people-centered. It secures the interests of Ghanaian miners, brings transparency to gold revenue streams, and aligns with the government’s industrialization and local content policies. It is, therefore, more than a gold policy it is a sovereignty restoration agenda.

A Call to President Mahama and His Appointees

The idea behind GOLDBOD is powerful and promising. But its success will depend on political will, strict enforcement, and genuine commitment to the national interest. I urge President Mahama and his appointees to prioritize:

Institutional integrity and transparency at every level of the gold management chain.

Inclusive stakeholder engagement to ensure buy-in from miners, chiefs, and communities.

Investment in local refineries, jewelry industries, and export platforms to increase value.

Public accountability to ensure citizens know where gold revenues are going.

The contrast is clear: while the Agyapadie Deal placed Ghana’s resources in foreign hands, GOLDBOD is a step toward national empowerment and responsible resource governance. As a political analyst and advocate for a prosperous Ghana, I believe the GOLDBOD initiative is the bold direction we need — and it must be protected, strengthened, and fully implemented for the benefit of all Ghanaians.

Let us rally behind this new chapter. The time to rise is now.

We are one people. Ghana first.

Signed

William Boadi
Executive Director of Educate Africa Institute (EAI), Educationist, Political analyst, and Social Worker.
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