Business
Ghana’s Gold Reserves Soar to GH₵46 Billion as Global Prices Climb

Ghana’s gold reserves have hit an impressive milestone, reaching a valuation of approximately GH₵46.3 billion by the end of April 2025. The Bank of Ghana made the announcement on May 6, attributing the surge to the rising price of gold, which stood at GH₵46,086.32 per ounce.
According to the central bank’s data, Ghana held 31.37 tonnes of gold as of April 30. When converted, that amounts to just over 1 million ounces (1,008,837.07). Based on the current market price, this gives Ghana’s gold stash a total value of nearly GH₵46.44 billion.
This marks a significant leap in the country’s reserves, underscoring gold’s growing role as a strategic financial asset for Ghana’s economy.
Over the past two years, the Bank of Ghana has been steadily building its gold holdings—from just 8.78 tonnes in May 2023 to over 31 tonnes now. This is part of the “Gold for Reserves” initiative, designed to diversify the central bank’s assets, stabilize the cedi, and reduce the country’s dependence on the US dollar.
The program has also helped strengthen Ghana’s foreign exchange reserves, boosting the nation’s economic resilience in an increasingly uncertain global market.
Although the Bank has not indicated whether it will increase its gold purchases further, analysts believe the upward trend in global gold prices—driven by geopolitical tensions, inflation worries, and rising demand for safe-haven assets—could motivate continued investment.
As Africa’s leading gold producer, Ghana is well-positioned to benefit from this bullish market, turning its natural resources into a pillar of economic strength.
Business
NEIP and MoFA Partner to Boost Poultry Agribusiness Under Adwumawura Programme

The National Entrepreneurship and Innovation Programme (NEIP) has signed a Memorandum of Understanding (MoU) with the Ministry of Food and Agriculture (MoFA) to scale up support for agricultural entrepreneurs through the Adwumawura Programme.
The partnership seeks to strengthen Ghana’s agribusiness sector by combining MoFA’s technical expertise with NEIP’s entrepreneurship training initiatives.
As part of the agreement, MoFA will provide high-quality poultry feed and deliver technical and field support to programme beneficiaries. NEIP, on the other hand, will equip entrepreneurs with practical business training and essential resources, including hen coops, to help them establish and expand their poultry ventures.
At the signing ceremony, officials from both institutions emphasized that the collaboration is tailored to empower small-scale poultry farmers, especially “nkoko nketenkete” entrepreneurs, to create jobs, grow agribusinesses, and contribute to sustainable economic development.
The initiative falls under NEIP’s broader Reset Agenda, which is focused on driving innovation, supporting small enterprises, and positioning agriculture as a central pillar of Ghana’s economic transformation.
Business
Commercial Transport Operators Threaten Strike Over Soaring Spare Parts Prices

Commercial Transport Operators have issued a stern warning to government, demanding immediate action to reduce the high cost of spare parts or risk facing major disruptions in the transport sector.
In a statement dated September 9, 2025, the operators said they felt “compelled” to call on the Ministry of Transport, Ministry of Trade and Industry, Ministry of Finance, and the Parliamentary Select Committees on Trade, Industry, and Transport to swiftly intervene.
They recalled that in March 2025, during engagements with spare parts dealers and government officials, a promise was made to bring down spare parts prices, but nothing had been done since.
“Unfortunately, this promise has not been fulfilled, and the prices remain exorbitant,” the operators lamented.
The statement further warned: “If immediate action is not taken, we fear that the situation will escalate, and we may be forced to take drastic measures that could disrupt transportation services. We cannot continue to operate under these unsustainable conditions.”
They urged the relevant ministries and parliamentary committees to ensure that spare parts dealers adhere to their commitments, stressing that the survival of the transport industry—and by extension, the economy—depends on swift action.
“Failure to address this pressing issue will have severe consequences for our industry and the economy as a whole,” the statement concluded.
Business
GoldBod Unveils Bold Reforms to Transform Ghana’s Mining Sector

The Chief Executive Officer of the Ghana Gold Board (GoldBod), Mr. Sammy Gyamfi, has announced sweeping reforms and strategic initiatives to position Ghana’s mining sector as a globally competitive and sustainable industry.
Speaking at the maiden edition of the Mining and Minerals Convention at the Kempinski Gold Coast Hotel, Mr. Gyamfi said the GoldBod was driving a paradigm shift from raw mineral extraction to value retention, with the goal of maximising national benefit from Ghana’s mineral wealth.
Between January and August 2025, small-scale gold exports facilitated by GoldBod reached a record 66.7 tonnes valued at $6 billion, surpassing the entire 2024 figure of 63 tonnes worth $4.6 billion. For the first time, small-scale gold exports outperformed large-scale mining exports over the same period.
Key reforms announced include:
Aggressive licensing reforms to promote responsible sourcing.
Scrapping of the 1.5% withholding tax on unprocessed small-scale gold.
Introduction of a nationwide traceability system to ensure transparency and compliance.
Partnerships requiring large-scale miners to supply 20% of their output to the Bank of Ghana for reserve accumulation.
To combat illegal mining, the GoldBod has pledged ₵5 million and five Toyota Hilux pickups to enforcement agencies, alongside a program to reclaim 1,000 hectares of degraded forest reserves beginning November 2025.
On value addition, Mr. Gyamfi announced plans for a state-owned gold refinery and an ISO-certified Assay Laboratory at Kotoka International Airport. Discussions are also underway to establish a “Gold Village” as a continental hub for jewellery production.
Calling for stronger investment, he urged local banks, pension funds, and financiers to channel resources into mining, stressing Africa’s need to transition from raw exports to beneficiation, from middlemen to tech-driven trade, and from youth as labourers to youth as innovators and owners.
“Ghana is resetting and Africa is rising. The GoldBod is ready. All we need now is courage and capital. Let us fund the minerals and mining sector differently. Let us transform it together,” Mr. Gyamfi concluded.
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