Minister of Finance, Dr Cassiel Ato Forson has announced the establishment of a Ghana Gold Board (GOLDBOD) as a key policy intervention of the Mahama-led administration to support economic transformation in the country.
Presenting the 2025 Budget Statement and Economic Policy in Parliament on March 11, the Finance Minister underscored that the GOLDBOD will be tasked with boosting foreign exchange earnings and accumulating gold reserves for the country’s benefit.
According to the Finance Minister, the board’s primary goal will be to support the nation’s economic growth by regulating and overseeing Ghana’s gold resources.
He emphasised that the GOLDBOD’s mandate will be to monitor gold-related activities as well as managing the sale of gold to support the country’s economic development.
“Mr. Speaker, we are establishing the Ghana Gold Board (GOLDBOD). Its primary objective will be to support foreign exchange inflows and gold reserve accumulation for the benefit of our dear country. To achieve this, the GOLDBOD shall regulate, oversee, monitor and undertake the purchasing, assaying,
refining, exporting, selling and other related activities concerning the gold resources of Ghana,” he stated.
Dr Ato Forson further indicated that an amount of US$279 million will be allocated to the board, which will see to the weekly purchase and export of not less than 3 tonnes of gold from small scale miners.
“Mr. Speaker, we will provide a Cedi equivalent of US$279 million as a revolving fund for the Ghana Gold Board (GOLDBOD) to be able to purchase and export at least 3 tonnes of gold per week from small scale miners,” he assured.
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