GoldBod Exports 88 Tonnes of Small-Scale Gold Valued at US$12 billion

The Ghana Gold Board (GoldBod) exported 88 tonnes of gold from Ghana’s artisanal and small-scale mining (ASM) sector, valued at approximately US$12 billion, in 2026, underscoring the Board’s growing contribution to foreign exchange generation and Ghana’s economic stability.

The Minister for Finance, Dr. Cassiel Ato Forson (MP), disclosed this when presenting the 2027 Budget Statement and Economic Policy to Parliament, highlighting the significant contribution of gold exports to the country’s external reserves and exchange rate performance.

According to the Minister, exports from Ghana’s large-scale mining sector also recorded a strong performance, with a total of 80.64 tonnes valued at US$10.23 billion.

Dr. Forson explained that the substantial export earnings from both mining sectors had increased foreign exchange supply, strengthened Ghana’s international reserves and supported the stability of the cedi.

The figures highlight the strategic importance of GoldBod’s operations in mobilising foreign exchange through the formal gold trading system and supporting the country’s broader macroeconomic objectives.

The Finance Minister further disclosed that the baseline cost of generating foreign exchange and accumulating international reserves had declined significantly from 16 per cent in 2025 to 5 per cent in 2026.

As part of measures to achieve further reductions in the cost of foreign exchange generation, Government plans to introduce a 3 per cent discount on small-scale gold purchases in 2027. The proposed measure, which will be implemented in consultation with industry stakeholders, is expected to reduce the baseline cost of foreign exchange generation and reserve accumulation to 2 per cent.

The proposed discount forms part of broader efforts to improve the efficiency and cost-effectiveness of Ghana’s gold purchasing and foreign exchange mobilisation framework.

GoldBod’s contribution to the national economy is anchored in its mandate to regulate, purchase and facilitate the export of gold from Ghana’s small-scale mining sector, while supporting responsible sourcing, traceability and the formalisation of the gold trading industry.

The export performance reported in the 2027 Budget reinforces the strategic role of GoldBod in Ghana’s foreign exchange architecture and the Government’s efforts to strengthen international reserves, support currency stability and maximise the economic benefits of the country's mineral resources.