Ghana Gold Board records $6 billion in small-scale gold exports in 8 months

The Ghana Gold Board (GoldBod) has announced record-breaking small-scale gold exports worth approximately $6 billion between January and August 2025. This represents 66.7 tonnes of exports, surpassing the entire 2024 output of 63 tonnes valued at $4.6 billion.

The Chief Executive Officer of the Board, Mr. Sammy Gyamfi, disclosed this at the maiden edition of the Mining and Minerals Convention in Accra. He noted that for the first time, small-scale gold exports exceeded large-scale sector exports, which stood at 65.1 tonnes valued at $5.6 billion for the same period.

According to Mr. Gyamfi, reforms introduced by the GoldBod—such as the removal of the 1.5% withholding tax on unprocessed gold, the establishment of a task force against illegal gold trading, and the rollout of competitive pricing systems—have reduced smuggling and boosted official exports.

“These forex inflows have significantly strengthened Ghana’s reserves, improved our balance of payments, and provided critical support to the cedi,” he said, emphasising GoldBod’s role in reshaping Ghana’s mining economy.

Mr. Gyamfi further revealed that the Board has begun purchasing 20% of the output of seven large-scale mining firms to support the Bank of Ghana’s gold reserves. Nearly 100 kilogrammes of gold have already been supplied to the central bank.

He added that beyond revenue gains, the GoldBod is prioritising traceability and responsible sourcing in line with international best practices, with a nationwide traceability system set to be implemented before the end of the year.

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