Ghana has earned over $1.17 billion in foreign exchange from the first full month of operations under the Goldbod gold purchase programme, according to Finance Minister Dr. Cassiel Ato Forson
The revenue, generated from the purchase and export of over 11 tonnes of gold, marks a significant milestone in the government’s strategy to stabilize the cedi and deepen local participation in the gold value chain.
Dr. Forson made the announcement during the inauguration of the new Board of Directors of the Minerals Income Investment Fund (MIIF) in Accra, where he urged the newly constituted board to sustain the momentum and deliver long-term value from Ghana’s mineral wealth.
“This is a clear demonstration of the value that can be realised when our mineral wealth is properly structured and managed. MIIF must align with this new vision,” the Minister said.
Dr. Forson called for a reset at MIIF, stressing the need to restore the Fund’s core mandate of responsible and transparent mineral investment. Between 2019 and 2024, he noted, the Fund experienced severe mismanagement, prompting the government to withdraw financial support.
“We saw significant abuse of public resources. That era must not be repeated. If the board restores discipline and puts resources to proper use, government will reconsider its stance,” Dr. Forson stated.
The Minister also highlighted MIIF’s role in enhancing Ghana’s equity in mining operations and promoting local content across the mining value chain. He revealed plans to work closely with MIIF and Goldbod to expand the gold purchase initiative and strengthen Ghana’s gold reserves.
As part of ongoing reforms, Dr. Forson also announced a renewed crackdown on mineral smuggling, pledging tighter oversight to ensure no precious mineral leaves the country without due process and benefit to the state.
The newly inaugurated MIIF board is chaired by Mr. Richard Kwame Asante. Other members include Ms. Justina Amiorkor Nelson, Ms. Berl Yaa Asantewaa Asante, Ms. Mawusi Ama Mawuenyefia, Hon. Yakubu Mohammed, Hon. Alfred Okoe Vanderpuije, Mr. Robert Wisdom Cudjoe, Mr. Edward Appenteng Gyamerah, and Dr. Zakaria Mumuni.
Speaking on behalf of the board, Mr. Asante pledged their full commitment to restoring public trust in MIIF and aligning its operations with Ghana’s national development goals.
