The former Chief Executive Officer of the Precious Minerals Marketing Company (PMMC), Lawyer Nana Awuah, has shed light on recent reforms in Ghana’s gold trading license system. Speaking on Bryt Adekyee Mu Nsem, he explained that the changes were introduced to enhance transparency and accountability among licensed gold traders and buyers.
According to him, the PMMC had long been responsible for issuing licenses to all individuals and companies involved in gold trading and purchasing in Ghana. However, many license holders failed to file their monthly returns, making it difficult to track the flow of gold between buyers and sellers.
To address this, PMMC, in collaboration with development partners, revised the licensing framework to require all license holders to file monthly returns detailing the quantity of gold bought and sold. Lawyer Awuah noted that to make the process easier, especially for traders operating in remote mining areas, the company provided an email system through which returns could be submitted electronically.
He further explained that the new system allows for “traceability,” meaning that if one license holder reports selling gold to another, the buyer’s report should reflect the same transaction. Any inconsistency, he said, would quickly expose false declarations and strengthen the integrity of Ghana’s gold trade.
Source:Mybrytfmonline.com/Pearl Faith
