The Acting Managing Director of the Precious Minerals Marketing Company (PMMC), Sammy Gyamfi, has dismissed concerns that GoldBod’s dual role in trading and regulatory oversight could lead to conflicts of interest.
In a post on X, Gyamfi clarified that GoldBod is neither a regulator nor a competitor in the gold trade but a monopoly responsible for the trading and export of gold.
“The GoldBod is simply a monopoly in the trading and export of gold… The regulatory function of the GoldBod relates only to its own licensed agents and not to competitors,” he stated.
He further emphasized that GoldBod’s regulatory authority is limited to ensuring compliance among its licensed service providers, not external traders. “For emphasis, the GoldBod will not be regulating competitors but rather its own licensed agents. Thus, the issue of conflict of interest does not arise at all,” he added.
Source:Mybrytfmonline.com/Kwabena Nyarko Abronoma
