Sammy Gyamfi, the Chief Executive Officer (CEO) of the Ghana Gold Board, has thrown a challenge to the Member of Parliament for Ofoase-Ayirebi, Kojo Oppong Nkrumah, concerning the Goldbod aggregator license.
Speaking on News File, Sammy Gyamfi stated, “I am here, Kojo Oppong Nkrumah, I am here, you have addressed a press conference. I am challenging you, if you can give me one company that has applied for a Goldbod aggregator lincense met all the requirements, especially giving us a guarantee from a bank or an insurance company, and we refused its application, put it out today. They don’t have.
It will be recalled that the Minority in Parliament questioned the licensing of Bawa Rock Company Limited by the Gold Board.
According to them, Bawa Rock Company Limited is the sole aggregator for the purchase of artisanal gold from suppliers across the country.
The minority highlighted that the arrangement has effectively created a monopoly where competition once existed.
Speaking to journalists on Monday, December 29, 2025, the Ranking Member on the Economy and Development Committee, Kojo Oppong Nkrumah, stated, “There’s a person known as Alhaji Bawa of Bawa Rock Limited. We bring to the attention of the Ghanaian people the role of his company in becoming the only aggregator licensed by the Gold Board to purchase all artisanal gold directly for the Gold Board from suppliers across the country.
“A de facto monopoly has been created in this industry where competition used to exist and used to ensure fair pricing, transparency, and the prevention of rent-seeking”
“Who is benefiting from this deliberate monopoly? Who selected Bawa Rock Limited, and what criteria were used? Was it competitive? Who are the beneficial owners of this entity? These are questions the public deserves answers to,” he said.
Subsequently, Sammy Gyamfi, has revealed that Bawa Rock Company Limited was the only applicant out of 31 to meet the eligibility requirements for an aggregator licence.
Speaking on Joy FM’s News File on Saturday, January 3, Sammy Gyamfi, persons who claimed the Goldbod created a monopoly do not understand how the Board’s gold trading and licensing system operates.
He explained that the GoldBod operates a four-tier gold buying licence system, which includes the tier one buyers, tier two buyers, self-financing aggregators, and aggregators.
According to him, all four tiers buy gold on behalf of the Goldbod, not only Bawa Rock, but also the only aggregators.
Sammy Gyamfi detailed that tier one buyers are grassroots buyers licensed to purchase gold directly from licensed small-scale miners, while tier two buyers are permitted to buy from both miners and tier one buyers. Self-financing aggregators, he said, use their own funds to buy gold for GoldBod, unlike aggregators who are primarily funded by GoldBod to carry out purchases.
Mr Gyamfi divulged that in 2025, “GoldBod issued a total of 900 buying licences. Out of these, 269 were issued under the tier one category, 578 under tier two, 52 self-financing aggregator licences, and only one aggregator licence”.
He stated that 31 applications were received for the aggregator category, but only Bawa Rock met the eligibility criteria required in 2025.
According to Sammy Gyamfi, he jas nothing to do with the approval of aggregator licences, adding that management only makes recommendations, with the governing board of GoldBod solely responsible for approving or rejecting applications.
He also noted that the aggregator licensing process is ongoing and has not been closed, adding that the number of aggregators can change at any time.
Watch the video below:
Sammy Gyamfi just used less than a minute to render Kojo Oppong Nkrumah useless. Sammy Gyamfi is Him😂😂😂💔🇬🇭 pic.twitter.com/yKZPE7s6Jr
— Berry ☯︎🦍🥷 (@fanti_boy) January 3, 2026