GoldBod Generates $15bn Forex Inflows, Strengthens Cedi Stability – Finance Minister

The establishment of the Ghana Gold Board (GoldBod) has generated an additional US$15 billion in foreign exchange inflows, helping to strengthen Ghana’s reserves and support the stability of the cedi, Finance Minister Dr Cassiel Ato Forson has disclosed.

Speaking during the presentation of the 2026 Mid-Year Fiscal Policy Review in Parliament, Dr Ato Forson said the GoldBod initiative was introduced to formalise Ghana’s gold trade, reduce smuggling, and ensure that more benefits from the country’s mineral resources remain within the economy.

He explained that the intervention contributed to a major improvement in Ghana’s current account balance, which moved from a 1.9 percent surplus of GDP in 2024 to 8.3 percent in 2025.

“This was not simply a gold policy. It was a macroeconomic stabilisation policy designed to strengthen the cedi, build external buffers and restore confidence in the Ghanaian economy,” he said.

The Finance Minister also announced that government has reached an agreement with large-scale mining companies to purchase 30 percent of their annual gold production for refining by local refineries.

He said the move would increase domestic value addition and support Ghana’s reserve accumulation efforts.

Dr Ato Forson added that government’s Ghana Accelerated National Reserve Accumulation Policy (GANRAP) aims to increase the country’s international reserves to the equivalent of 15 months of import cover by 2028.