The Ghana Gold Board (GoldBod) has confirmed that its gold trading activities generated more than $10 billion in foreign exchange for Ghana in 2025, contributing to the country’s improving macroeconomic indicators.
GoldBod Chief Executive Officer Sammy Gyamfi said the inflows were primarily from the Board’s purchase of over 100 tonnes of gold from the artisanal and small-scale mining (ASM) sector on behalf of the Bank of Ghana.
“It remains an indisputable fact that the GoldBod has generated over $10 billion dollars in foreign exchange for the country in 2025 alone,” he stated.
He added that GoldBod also purchases 20 percent of the gold output of nine large-scale mining companies for the Bank of Ghana to bolster national gold reserves.
According to Mr. Gyamfi, these interventions have helped raise Ghana’s foreign reserves to around $12 billion in 2025, up from $9 billion in 2016, positively impacting currency stability.
“As a result, the Ghana cedi has appreciated against the U.S. dollar by over 35 percent year to date,” he noted, adding that the gains have lowered debt obligations, kept inflation in single digits, and eased the general cost of living.
Looking ahead, Mr. Gyamfi announced that GoldBod will fully assume control of the ASM gold trading programme starting January 2026.
“The GoldBod is set to fully takeover the ASM gold trading program effective January 2026,” he said.
Under the new arrangement, GoldBod will manage both the purchase and sale of gold, with no fee obligations to the Bank of Ghana. The Board plans to leverage government-backed revolving seed capital to deliver stronger returns for the nation.
The statements come in response to concerns reportedly raised by the International Monetary Fund regarding alleged losses linked to ASM gold transactions and so-called “GoldBod off-taker fees,” which the Board says are inaccurate.
Source: Starrfm.com.gh
