The Ghana Gold Board (GoldBod) recorded a significant increase in gold sales during 2025. This rise reflects growing activity within Ghana’s formal gold market, according to Sammy Gyamfi, the Chief Executive Officer of GoldBod.
This increase is a key outcome of GoldBod's expanded role in Ghana's gold-trading sector. The figures demonstrate a growing volume of gold entering the formal market under the Board’s regulatory and purchasing framework. This development is crucial for improving oversight and transparency in the sector.
The growth in gold sales is directly linked to efforts to formalise the domestic gold trade. These efforts aim to improve oversight of transactions within the sector. Ghana has historically struggled with informal gold mining and trading, often leading to revenue losses and environmental damage. GoldBod's initiatives are designed to bring these activities into the formal economy.
Mr. Gyamfi stated on JoyNews that GoldBod’s expanded operations are helping to bring more gold trading activities into the formal economy. This allows the state to better track transactions and identify market participants. It also helps Ghana derive greater economic value from its gold resources. The Board’s licensing, assaying, and receipting systems are improving transparency in the sector.
Under the new framework, gold buyers must obtain licences and undergo due diligence checks. All transactions are documented to provide greater visibility on the source and movement of gold. This structured approach helps combat illicit gold trading and ensures compliance with national regulations.
The increase in gold sales should be considered alongside GoldBod’s other contributions to the economy. These include non-tax revenue generation, foreign exchange mobilisation, and the accumulation of gold reserves. GoldBod recently purchased close to 2 metric tonnes of gold to support Ghana’s national reserves, strengthening the country's financial stability.
These developments reflect a broader objective: ensuring Ghana captures more value from its gold resources. This prevents the benefits of the commodity from being lost through informal and poorly regulated trading arrangements. The formalisation process is vital for sustainable economic growth and resource management.
Mr. Gyamfi affirmed that GoldBod will continue to strengthen its systems and expand its oversight of the gold market. This commitment aims to ensure that increased gold production and sales translate into greater benefits for the Ghanaian economy. The ongoing efforts are expected to enhance revenue collection and improve the sector's overall integrity.
The formalisation of the gold market is a critical component of Ghana's economic strategy. It aims to diversify revenue streams and reduce reliance on traditional exports. By bringing more gold into the formal system, Ghana can better manage its natural resources and secure long-term economic advantages. This strategy also supports the government's broader agenda of improving governance and reducing corruption in key economic sectors.