The Ghana Gold Board (GoldBod) generated more than $10 billion in revenue from gold exports in 2025, significantly strengthening the country’s foreign exchange reserves and contributing to the appreciation of the Ghana cedi, Deputy Minister for Finance, Thomas Nyarko Ampem, has disclosed.
Addressing Parliament on Wednesday, June 24, Mr. Ampem revealed that GoldBod purchased, aggregated, and exported 104 metric tonnes of gold from the artisanal and small-scale mining (ASM) sector during the year.
“Last year, 2025, the Gold Board cumulatively purchased, aggregated and exported artisanal and small-scale mining (ASM) gold totalling 104 metric tonnes, generating more than $10 billion for the country,” he stated.
According to the Deputy Finance Minister, the substantial inflows from gold exports played a pivotal role in strengthening Ghana’s economy and stabilising the local currency.
He noted that the initiative contributed significantly to the cedi’s appreciation of approximately 41 percent against the US dollar in 2025, while also helping to increase the country’s gross international reserves from about $8.98 billion in December 2024 to $13.8 billion by the end of 2025.
Mr. Ampem further disclosed that GoldBod invested heavily in gold purchases, spending approximately $16.1 billion between January 2025 and May 2026. Out of that amount, about $9.8 billion was spent on gold acquisitions during the 2025 calendar year.
“From January 2025 to May 2026, the Gold Board expended approximately $16.1 billion on the purchase of gold, of which $9.8 billion was used between January and December 2025,” he explained.
He emphasised that the government’s reforms in the gold sector are designed to promote transparency, curb smuggling, and ensure that the country derives maximum benefit from its mineral resources.
According to him, Ghana is transitioning from a system where gold wealth was often underpriced, fragmented, and lost through smuggling to a more structured regime where gold is transparently aggregated, assayed, refined, exported, and converted into foreign exchange for national development.
Mr. Ampem told Parliament that the new approach is yielding visible benefits for the economy, including stronger reserves, a more stable currency, and increased revenue generation for the country.
