“Yesterday, the Ghana Gold Board surpassed its 2025 small‑scale gold export target of 100 tons, generating over $10 billion in foreign exchange for the country,” Sammy Gyamfi, Chief Executive Officer of the Ghana Gold Board, said, emphasizing the board’s role in boosting Ghana’s gold sector.
GoldBod’s announcement marks a significant milestone in the country’s drive to formalise its gold sector and harness greater economic value from one of its most vital natural resources. The achievement comes amid a broad suite of reforms instituted by the board since its establishment earlier this year under the Ghana Gold Board Act, 2025 (Act 1140).
GoldBod was created as the central authority to regulate, purchase, assay and export gold, particularly from the artisanal and small‑scale mining (ASM) sector, which employs more than one million Ghanaians and has historically been under‑regulated and prone to smuggling and revenue loss. Under the new framework, GoldBod has become the sole legal aggregator of ASM gold in the country, ensuring traceability from production to export and bringing previously informal activity into the formal economy.
Since its inception, the board’s impact has been quickly felt across the sector. Through a centralised gold purchasing and licensing regime, it has significantly reduced smuggling and improved the transparency of gold flows. In the first four months of 2025 alone, GoldBod facilitated the official purchase and export of 41.5 tonnes of small‑scale gold valued at roughly US$4 billion.
GoldBod’s reforms have also seen the small‑scale mining sector’s export volumes rival, and at times exceed, those from Ghana’s large‑scale mining companies, a historic shift for the industry.
Beyond increasing export volumes and foreign exchange generation, the Board’s work has strengthened Ghana’s macroeconomic stability. Official gold reserves held by the Bank of Ghana have risen substantially in recent months, driven in part by legitimate gold sales through GoldBod’s framework, which helps support the cedi and balance of payments.
GoldBod has also introduced sustainable mining initiatives and digital traceability systems to ensure that only legally sourced gold enters Ghana’s export pipeline, bolstering confidence among international buyers and reducing illicit trade.
The surpassing of the 100‑tonne export milestone and the associated $10 billion in foreign exchange reflects both the scale of Ghana’s gold economy and the rapid influence of institutional reforms aimed at unlocking its full potential. As the year closes, GoldBod’s performance positions the sector for continued growth and deeper contribution to the nation’s foreign exchange earnings and economic resilience.
