In a landmark achievement for Ghana’s mining sector and wider economy, the Ghana Gold Board (GoldBod) yesterday announced that it has surpassed its 2025 small-scale gold export target of 100 tonnes, generating more than US$10 billion in foreign exchange; a performance hailed as unprecedented in the nation’s history.
The milestone underscores the transformation taking place within Ghana’s gold sector, where the formalisation of artisanal and small-scale mining through GoldBod’s centralised export regime has dramatically boosted export performance. According to official figures, small-scale miners have been responsible for record export volumes this year, outpacing large-scale operations for the first time and delivering sustained foreign exchange inflows that have supported the country’s balance of payments and national reserves.
GoldBod’s Chief Executive Officer, Sammy Gyamfi, described the achievement as a testament to policies that have strengthened regulation, increased traceability and formalised what was once a fragmented export landscape. Analysts say this structural shift has not only increased transparency in the sector but has also helped curb illicit gold flows that historically reduced potential earnings.
Economists believe the massive FX earnings will provide much-needed support to the Ghana cedi, which has experienced periodic volatility. The inflows are also expected to bolster government revenue streams, underpin public spending, and cushion external reserves at a time of complex global economic headwinds.
President John Dramani Mahama, speaking earlier this month, lauded GoldBod’s results as a model for resource sovereignty in Africa, emphasising the long-term value of harnessing Ghana’s mineral wealth for national development.
However, experts caution that continued vigilance is necessary to ensure that environmental protections, community benefits, and sustainable mining practices remain at the forefront as export volumes increase.
Author: Edem Latsu Nukafu
Edem Latsu Nukafu, a passionate communications professional dedicated to public relations, journalism, media strategy, and content development. He holds both a Diploma and Bachelor of Arts Degree in Communication Studies (Public Relations) from the University of Media, Arts and Communication – UniMAC-IJ. A member of Ghana Journalists Association (GJA).
