Ghana GoldBod leaders advocate for African gold association and tactical trading

Nana Akwasi Awuah, former CEO of the Precious Minerals Marketing Company and current leader of Ghana GoldBod, has proposed the creation of an African Gold Producers Association (AGPA). The goal is to enable gold-producing nations to coordinate strategies, maximize the economic benefits of the continent’s resources, and ensure more value is retained within Africa. As an initial step, Awuah suggested forming an African Gold Refineries Association (AGRA) to leverage the growing number of domestic refineries across the continent.

Separately, data scientist Alfred Appiah has advised the Ghana Gold Board to adopt more tactical timing in its gold trading. He warned that the current practice of immediate liquidation under the Domestic Gold Purchase Programme can lead to significant financial losses during temporary dips in global commodity prices. Appiah suggests that holding inventory during price slumps and selling during market recoveries would better preserve state capital and maximize foreign exchange value for the Bank of Ghana.