Ghana Goldbod spends 6.11b buying gold – Deputy Minister
Accra, Ghana – Ghana’s Gold Board (Goldbod) has invested over $16.11 billion in gold purchases from artisanal and small-scale miners as well as large-scale mining companies between January 2025 and May 2026, underscoring the state’s strategic push to formalise the precious metals sector and bolster national reserves.
Speaking in Parliament on Wednesday, Deputy Minister of Finance Thomas Nyarko Ampem revealed that Goldbod acquired 135.843 metric tonnes of gold during the period, with 135.221 tonnes sourced from the artisanal and small-scale mining (ASM) sector alone. In 2025, the body aggregated and exported 104 tonnes of ASM gold, generating over $10 billion for the national economy.
Ampem described Goldbod as a cornerstone of Ghana’s economic recovery, emphasizing its dual role in curbing illicit trade and strengthening foreign exchange positions. He cited Reuters estimates indicating that the nation lost approximately $11.4 billion to gold smuggling between 2019 and 2023, a trend he said the agency is now reversing.
“The Goldbod is bringing our gold trade out of the shadows, formalising supply, and ensuring Ghana captures value that used to leak through smuggling and fragmented trading channels,” he stated, highlighting the initiative’s impact on revenue retention and market transparency.
As of May 31, 2026, Goldbod had licensed 1,184 buyers under its framework, including two aggregators, 67 self-financing aggregators, 736 Tier 2 buyers, and 379 Tier 1 buyers—all mandated to source gold exclusively from certified miners.
The official linked the programme to broader macroeconomic gains under the government’s Reset Agenda, pointing to a current account surplus of $9.1 billion by end-2025, a 40.7% appreciation of the cedi against the US dollar, and gross international reserves rising to $13.8 billion (equivalent to 5.7 months of import cover).
Ampem affirmed that Goldbod remains vital to stabilising foreign exchange flows, securing legitimate gold trade channels, and alleviating cost-of-living pressures for ordinary citizens through prudent resource management.
Image Source: GHANA BUSINESS NEWS
