Ghana’s Gold Board generated more than $10 billion from gold exports in 2025, a performance the Ministry of Finance says significantly strengthened the cedi and improved the country’s external reserves.
Addressing Parliament on Wednesday, June 24, Deputy Minister of Finance Thomas Nyarko Ampem said the Gold Board purchased, aggregated, and exported 104 metric tonnes of artisanal and small-scale mining (ASM) gold during the year.
“Last year, 2025, the Gold Board cumulatively purchased, aggregated and exported ASM gold totaling 104 metric tons, which generated in excess of 10 billion United States dollars for the country,”
he stated.
According to the Deputy Minister, the strong inflow of foreign exchange from gold exports played a major role in supporting macroeconomic stability and the appreciation of the cedi.
“This singular achievement of the Gold Board was critical in the appreciation of the Ghana cedi by about 41 percent against the U.S. 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 told Parliament.
Mr. Ampem further disclosed that between January 2025 and May 2026, the Gold Board spent approximately $16.1 billion on gold purchases, with $9.8 billion used during the 2025 calendar year 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 said.
The Deputy Minister explained that government is pursuing reforms aimed at reducing gold smuggling, improving transparency, and ensuring that the country derives greater value from its mineral resources.
“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 to a regime where gold is transparently aggregated, assayed, refined, exported and turned into foreign exchange and reserves for the Republic,”
he stated.
He added that the Gold Board purchased a total of 135.843 metric tonnes of gold during the period under review, with the majority sourced from the artisanal and small-scale mining sector.
Government officials say the performance demonstrates the growing importance of the Gold Board in strengthening Ghana’s foreign exchange position and supporting broader economic recovery efforts.
