President John Dramani Mahama has commended the Ghana Gold Board (GoldBod) for its remarkable achievements in strengthening Ghana’s control over gold exports and significantly improving foreign exchange inflows, describing the reforms as a major driver of national socio-economic development.
The President made the remarks while addressing participants at the Africa Trade Summit 2026 in Accra, held under the theme:
“Financing Africa’s Industrialisation, Development, Industrial Value Chains, Beneficiation and Market Integration.”
According to President Mahama, the establishment of GoldBod represents a decisive shift in Ghana’s management of gold exports, particularly within the small-scale mining sector.
“The establishment of the Ghana Gold Board has given us greater control over our gold exports,” the President stated.
He explained that in 2024, total gold exports from the small-scale mining sector stood at 63 tonnes; however, foreign exchange was repatriated for only about 40 tonnes, leaving export proceeds from approximately 23 tonnes unrepatriated.
President Mahama noted that this trend has been significantly reversed since the creation of GoldBod in April 2025.
“Since the establishment of the Gold Board, exports from the small-scale mining sector have increased to 104 tonnes, with 100 per cent of the foreign exchange repatriated to Ghana,” he said.
The President emphasized that the improved export performance and full foreign exchange repatriation underscore the importance of strengthened state oversight and enhanced local participation in the extractive sector.
He added that the GoldBod reforms align closely with the broader objectives of the Africa Trade Summit, particularly the drive for beneficiation, value addition, and resource sovereignty as critical pillars of Africa’s industrialisation agenda.
President Mahama reaffirmed government’s commitment to ensuring that Ghana derives maximum value from its natural resources to support industrial growth, job creation, and sustainable national development.
Story: Patrick Asford Boadu
