The Deputy Minister for Finance, Thomas Ampem Nyarko, has disclosed that the Ghana Gold Board spent approximately US$16.1 billion on gold purchases between January 2025 and May 2026.
Speaking on the floor of Parliament on Wednesday, June 24, Mr Ampem Nyarko said US$9.8 billion of the amount was expended between January and December 2025 alone.
“Mr Speaker, 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 stated.
The Deputy Minister explained that the Gold Board forms part of government’s strategy to reform the gold sector by replacing what he described as an unregulated system with a more structured and transparent framework.
According to him, the initiative is aimed at ensuring that Ghana derives greater value from its gold resources.
“The bigger policy point is that government is deliberately shifting Ghana from a regime where gold wealth was dispersed, underpriced and smuggled,” he said.
He noted that the new system allows for greater accountability throughout the gold value chain, from aggregation and assay to refining and export.
“We have a regime where gold is transparently aggregated, assayed, refined, exported and turned into foreign exchange and reserves for the Republic with visible and tangible benefits for the entire country,” he added.
Mr Ampem Nyarko further disclosed that the Gold Board is strengthening collaboration with the National Anti-Illegal Mining Operations Secretariat as part of efforts to tackle illegal mining and improve compliance within the sector.
“To enhance regulatory compliance and sustainability, the Ghana Gold Board strengthens its collaboration with the National Anti-Illegal Mining Operations Secretariat to address illegal mining,” he stated.
READ ALSO:
GoldBod announces introduction of new official gold pricing regime effective July 1
BoG demystifies central bank operations, exchange rates and reserves
