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Digitalised National Assay Laboratory to ensure efficiency in gold export
Ghana’s quest to embrace modern technology for economic progress is steadily gaining grounds as the government is leaving no stone unturned in ensuring complete success in the digital space.
In light of this, the Vice President of the Republic of Ghana, Dr ()Alhaji) Mahamudu Bawumia, who is instrumental in digitisation, launched the Digitalised National Assay Laboratory at the Avance Cargo Village at the Kotoka International Airport, Accra, on Wednesday, March 2, 2022.
“I am very happy to be participating in this function which ties in very well with Government’s agenda; an agenda that I have spearheaded under the auspices of His Excellency the President of the Republic, H.E. Nana Addo Dankwa Akufo-Addo. The goal is to streamline governance by cutting down on the human interface and making processes digital and more efficient.
“Digitisation has also made it possible to monitor in real time, gold exports passing through the National Assay Laboratory: Additionally, it has improved collation of timely data on gold export figures and revenues in order to aid national economic planning.
“As we are aware, Government is already transforming the governance of various sectors of Ghana’s economy through digitisation. Government’s digitisation drive is a key component of the overall economic strategy because the Fourth Industrial revolution is upon us and Ghana must take advantage of it if we are not to be left behind.
“There is a growing body of empirical evidence that illustrates the capacity of digital technology to create jobs, significantly boost productivity, increase income and support wealth creation,” Dr. Bawumia emphasised.
Mr. Samuel Abu Jinapor, Minister of Lands and Natural Resources also said that the ministry with its agencies since 2021, had committed to government’s digitalisation agenda to move some of its essential services online for effecient service delivery to reduce corruption and interference by middlemen.
The Managing Director of Precious Minerals Marketing Company (PMMC) Nana Akwasi Awuah stated that “since the commencement of the National Assay Programme till date, PMMC has been able to assay a total weight of gold of about 18million Ounces at an estimated total value of 27 billion United States Dallars”.
“Out of this figure the Artisanal and Small-scale Mining (ASM) accounted for 6.6million Ounces valued at 9.2 billion US Dollars representing about 40 per cent, while the large scale sector also accounted for 11.3million ounces valued at 17.9billion US Dollars,” he said.
Nana Awuah gave his full assurance to the fact that “this year PMMC shall work together with the Minerals Commission to develop a traceability system to track the chain of custody of gold dore right from the producing miner to its final destination”.
By Castro Zangina-Tong
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GEXIM deepens relations with US EXIM Bank
A management team of the Ghana Export – Import Bank (GEXIM) led by the Acting Chief Executive, Sylvester Mensah met with the leadership of the Export–Import Bank of the United States (US EXIM) on Wednesday April 23, 2025 in Washington DC, United States of America.
The Acting President and Chairman of US EXIM, Mr. James C. Cruse and Vice President, International Relations, Ms. Isabel Galdiz received the GEXIM delegation, which included Deputy CEO for Banking, Mr. Moses Klu Mensah and Head of International Cooperation, Mr. Jonathan Christopher Koney at the headquarters of US EXIM.
The meeting offered the GEXIM team the opportunity to share the strategic direction of the Bank in line with the resetting agenda of the President of the Republic, His Excellency John Dramani Mahama for the repositioning of the Ghanaian economy into an export-led one by providing the requisite investment to Ghanaian businesses.
Mr. James C. Cruse expressed US EXIM’s eagerness to deepen its existing relations with GEXIM and proposed the signing of a new Cooperative Framework Agreement following the expiration of a Memorandum of Understanding signed in 2019 to utilize US EXIM’s medium term loan guarantees to procure machinery by GEXIM for qualified Ghanaian Small and Medium-sized Enterprises (SMEs).
Mr.Sylvester Mensah thanked the Acting President and Chairman of US EXIM for hosting the GEXIM delegation and reaffirmed the Ghanaian government’s commitment to strengthening trade and investment between Ghana and its global partners for economic transformation of Ghana with GEXIM playing a pivotal role.
The two teams will be meeting on the sidelines of the 2025 US EXIM Annual Conference on 29th and April 30, 2025 to explore possible areas of collaboration and matching Ghanaian businesses to American companies. The meeting ended with an exchange of gifts.
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Many SOEs have been used as mere instruments for personal wealth accumulation –Pres.Mahama
President John Dramani Mahama has expressed concern over the misuse of State-Owned Enterprises (SOEs) for personal financial gain by individuals in leadership positions.
Speaking during a meeting with Chief Executives of specified entities under the State Interest and Governance Authority (SIGA) on Thursday, March 13, the President directly attributed the dire state of SOEs to their leadership, accusing chief executives, management teams, and governing boards of prioritising personal enrichment over organisational efficiency.
He pointed to bloated budgets, unjustified allowances, and unnecessary expenditures as factors draining public funds while SOEs continue to rely on government bailouts.
“Many SOEs have been used as mere instruments for personal wealth accumulation by appointees. The chief executives, management, and boards of these enterprises are responsible for this situation. Some SOEs have become perennial loss-makers, draining public funds with bloated budgets, unjustified allowances, and unnecessary expenditures while relying on government bailouts as if entitled to them. Many of these entities are at their lowest point in the entire history of the Fourth Republic,” he said.
President Mahama further noted that many SOEs have been plagued by inefficiencies, corruption, and mismanagement, leading to consistent financial losses. He cited the 2023 State Ownership Report by the State Interests and Governance Authority (SIGA), which highlighted systemic inefficiencies and wasteful expenditures within these entities.
He therefore reaffirmed his commitment to reforming under-performing SOEs and ensuring they serve national interests.
He warned that loss-making SOEs will no longer be tolerated and will either be merged, privatised, or closed.
“I will assess you based on your performance. If you do not align with the pace of the reset agenda, you may be asked to step aside. If that adds to the horror movie, so be it,” he added.
Source: Myjoyonline.com
