ACCRA, Nov. 14 – The Ghana Gold Board (GoldBod) has exported 88 tonnes of gold from the artisanal and small-scale mining (ASM) sector so far this year, valued at about $12 billion, Finance Minister Dr Cassiel Ato Forson has disclosed.
The figures were contained in the 2027 Budget Statement and Economic Policy presented to Parliament on Thursday, the Daily Graphic reported on Saturday.
According to the minister, exports from the large-scale mining sector also performed strongly, reaching 80.64 tonnes valued at $10.23 billion.
Boost for reserves and the cedi
Dr Forson said the export earnings from both the small-scale and large-scale mining sectors had increased the supply of foreign exchange, strengthened Ghana’s international reserves and supported the stability of the cedi.
He also disclosed that the baseline cost of generating foreign exchange and accumulating international reserves had fallen from 16 per cent in 2025 to five per cent in 2026.
3% discount on small-scale gold purchases planned
To cut that cost further, the government plans to introduce a three per cent discount on small-scale gold purchases in 2027. The measure, to be implemented in consultation with industry stakeholders, is expected to bring the baseline cost of foreign exchange generation and reserve accumulation through GoldBod down to about two per cent.
GoldBod is mandated 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 trade.
Why it matters
Gold has become a major pillar of Ghana’s foreign exchange earnings. Bringing more small-scale gold through the formal GoldBod system means more dollars flow into the Bank of Ghana’s reserves rather than through informal channels – a key factor behind the cedi’s performance this year.
Source: 2027 Budget Statement; Daily Graphic.
Featured image: Gold bars (illustrative). Photo: Stevebidmead / Wikimedia Commons (CC0).