The Ghana Gold Board (GoldBod) generated more than $10 billion from gold exports in 2025, significantly boosting the country’s foreign exchange reserves and contributing to the strong performance of the cedi.
Deputy Minister for Finance, Thomas Nyarko Ampem, made this disclosure while addressing Parliament on Wednesday, June 24.
“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.
Mr Ampem explained that the massive inflows from gold exports played a key role in improving Ghana’s macroeconomic stability.
“This singular achievement by the Gold Board was critical to the appreciation of the Ghana cedi by about 41 per cent against the US dollar in 2025, and in increasing foreign reserves from about $8.98 billion in December 2024 to $13.8 billion by the end of December 2025,” he said.
The Deputy Minister also revealed that the Gold Board invested heavily in gold purchases, spending approximately $16.1 billion between January 2025 and May 2026, with $9.8 billion of that amount spent in 2025 alone.
“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 noted that the government’s reforms in the gold sector are aimed at promoting transparency and reducing smuggling.
“The bigger policy point is that government is deliberately shifting Ghana from a regime where gold wealth was dispersed, underpriced and smuggled through the Gold Board.
“We now have a regime where gold is transparently aggregated, assayed, refined, exported and converted into foreign exchange and reserves for the Republic, with visible and tangible benefits for the entire country,” Mr Ampem told Parliament.
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