The government of Ghana has taken a significant step by establishing the Gold Board (Goldbod), a move that centralizes the trading and export of gold. However, a critical question remains: why stop at regulating and overseeing transactions when the country could take a more active role in gold production? If the government has the capacity to set up a national gold board, why not channel the same energy into establishing state-owned, medium-scale mines across the country? Such a move would not only make economic and developmental sense but would also ensure that Ghana fully benefits from its vast gold resources.
The government of Ghana has taken a significant step by establishing the Gold Board (Goldbod), a move that centralizes the trading and export of gold. However, a critical question remains: why stop at regulating and overseeing transactions when the country could take a more active role in gold production? If the government has the capacity to set up a national gold board, why not channel the same energy into establishing state-owned, medium-scale mines across the country? Such a move would not only make economic and developmental sense but would also ensure that Ghana fully benefits from its vast gold resources.
For decades, Ghana’s gold industry has been dominated by large multinational corporations and small-scale artisanal miners. While these players contribute to the economy, the country’s full potential remains untapped due to an overreliance on taxation and regulatory fees. Instead of positioning itself as a passive regulator or revenue collector, the government should take a more proactive stance by directly participating in gold mining. By establishing state-owned mines, Ghana can create thousands of jobs for locals, ensure sustainable mining practices, and significantly increase national revenue.
While the establishment of the Gold Board is a commendable step, its role must be clearly understood. The Gold Board is neither a regulator in the traditional sense nor a competitor in the gold mining sector. Rather, it holds a monopoly over gold trading and export, overseeing transactions conducted through its licensed agents. Its regulatory functions apply only to its approved service providers, ensuring compliance with its governing Act and regulations. Importantly, it does not regulate or oversee independent mining companies, eliminating concerns over conflicts of interest.
A common argument against nationalizing gold mines is the claim that state-owned enterprises are poorly managed and prone to losses. Critics often point to struggling public institutions, such as the Electricity Company of Ghana (ECG), to justify opposition to state-run mining. However, this argument is both misleading and selective. If one failing state enterprise is enough to reject government participation in mining, then by the same logic, the failures of private businesses should also disqualify private sector involvement. There are countless private enterprises that operate at a loss, yet no one suggests that privatization as a whole is a flawed concept.
The key to living well in a high-tech world is to spend much less time using technology
Digital Decluttering Checklist
Before diving into digital minimalism, consider following this checklist to start your journey:
Comparison Between Digital Minimalism and Digital Detox
| Aspect | Digital Minimalism | Digital Detox |
|---|---|---|
| Approach | Mindful use of technology | Complete break from technology |
| Duration | Long-term lifestyle change | Temporary break |
| Goal | Reduce distractions and enhance focus | Recharge mental energy |
| Focus | Focus on essential digital activities | Avoid all digital activities entirely |
