Ghana's Gold Board (GoldBod) generated over GHS 147 billion ($10 billion) from gold exports in 2025. This substantial earning significantly improved the nation's foreign exchange position.
Deputy Finance Minister Thomas Nyarko Ampem stated this achievement helped strengthen the Ghana cedi. GoldBod purchased, aggregated, and exported 104 metric tonnes of gold in 2025. This gold came from the artisanal and small-scale mining (ASM) sector.
This performance fits into Ghana's broader economic strategy to leverage its natural resources for stability. Gold exports are crucial for Ghana's balance of payments. Strong export earnings bolster the country's economic resilience. This particular inflow contributed to the Ghana cedi appreciating by approximately 41 percent against the US dollar in 2025. It also significantly increased foreign reserves.
Deputy Minister Ampem highlighted these points in Parliament on Wednesday, June 24. He explained that the Gold Board's efforts were critical. Reserves grew from about $8.98 billion in December 2024 to $13.8 billion by December 2025.
The positive impact of these earnings on the cedi and reserves indicates a stronger economic outlook. Decision-makers will likely continue supporting policies that enhance gold sector transparency. Market participants will watch for sustained cedi stability and further reserve growth. The government aims to reduce smuggling and maximize benefits from Ghana's mineral wealth.
GoldBod invested approximately $16.1 billion in gold purchases between January 2025 and May 2026. $9.8 billion of this amount was spent in 2025 alone. This investment reflects the scale of the operation and its economic importance. Government reforms in the gold sector seek to ensure greater transparency. They aim to prevent the dispersion, underpricing, and smuggling of gold. Instead, gold is now transparently aggregated, assayed, refined, and exported. This process converts gold into foreign exchange and reserves for the Republic. This approach provides visible and tangible benefits for the entire country, according to Mr Ampem.