Gold Board generated over $10bn from exports in 2025, Parliament told

Ghana's Gold Board generated more than $10bn in export earnings in 2025, a performance the government says played a key role in strengthening the cedi and boosting the country's foreign reserves.

Addressing Parliament on Wednesday, Deputy Finance Minister Thomas Nyarko Ampem said the Gold Board purchased, aggregated and exported 104 metric tonnes of gold from the artisanal and small-scale mining sector during the year.

According to him, the exports delivered substantial foreign exchange inflows and contributed significantly to Ghana's improving economic indicators.

"Last year, 2025, the Gold Board cumulatively purchased, aggregated and exported ASM gold totaling 104 metric tonnes, which generated in excess of $10bn for the country," Mr Ampem told lawmakers.

The deputy minister said the inflows from gold exports helped strengthen Ghana's external position and supported the appreciation of the local currency.

He told Parliament that the cedi appreciated by about 41% against the US dollar in 2025, while the country's gross international reserves increased from $8.98bn in December 2024 to $13.8bn by the end of 2025.

"This singular achievement of the Gold Board was critical in the appreciation of the Ghana cedi and in increasing foreign reserves," he said.

Mr Ampem also revealed the scale of government investment in gold purchases under the programme.

He said the Gold Board spent approximately $16.1bn on gold acquisitions between January 2025 and May 2026, with $9.8bn of that amount invested during the 2025 financial year.

The government says reforms in the gold sector are intended to increase transparency, curb smuggling and ensure that a larger share of Ghana's mineral wealth benefits the national economy.

Mr Ampem argued that the new framework marked a departure from a system in which gold was often underpriced or smuggled out of the country.

"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 added that the Gold Board model was designed to ensure gold is properly aggregated, assayed, refined and exported, with the resulting foreign exchange earnings contributing directly to national reserves and economic stability.

The government has increasingly relied on gold exports as part of broader efforts to strengthen the economy, stabilise the currency and improve the country's reserve position amid ongoing economic reforms.