President John Dramani Mahama has highlighted the positive impact of the Ghana Gold Board (GoldBod) on the country’s economy, noting that recent gold export gains have helped strengthen Ghana’s foreign reserves and stabilise the cedi.
Speaking at the inauguration of the GoldBod Task Force on Tuesday, July 8, 2025, at Jubilee House, Accra, the President described the Board as a strategic arm of Ghana’s national economic transformation project.
He stated that since its interim formation in January 2025, the Ghana Gold Board has implemented aggressive reforms, particularly in the artisanal and small-scale mining (ASM) sector. By May 2025, GoldBod had exported 11 tonnes of gold valued at USD 1.1 billion. In total, exports from the small-scale sector reached 51.5 tonnes, valued at approximately USD 5 billion.
“These inflows have strengthened our foreign reserves, improved our balance of payments, and helped stabilise the Cedi,” President Mahama said.
He reaffirmed the government’s belief in the potential of artisanal miners when supported and formalised, saying:
“More importantly, they reaffirm our belief that artisanal miners, when supported and formalized, can be powerful allies of development.”
The President explained that the Ghana Gold Board, established under Act 1140, now has “exclusive rights to purchase and export all gold produced in Ghana, except that from large-scale mining firms, where GoldBod still holds preemptive rights.”
He said gold, like cocoa, will now be consolidated, traded, and exported through a centralised, transparent system, as part of broader reforms to reclaim value from the country’s mineral resources.
“This Task Force is not just a security initiative; it is a strategic arm of a national economic transformation project, purposefully designed to restore integrity, accountability, and value to Ghana’s gold sector,” he said.
Source: Starrfm.com.gh
