The Ministry of Finance has announced that GoldBod interventions alone contributed 41% of the Cedi appreciation and boosted Ghana’s foreign reserves in 2025.
According to the Finance Ministry, Goldbod spends $16 billion on gold purchases between January 2025 and May 2026.
The Finance Ministry disclosed that Goldbod expended about $16 billion on gold purchases over the period, while generating over $10 billion from gold exports in 2025 alone.
Speaking on the floor of parliament, the Deputy Finance Minister, Thomas Nyarko Ampem, detailed, “Mr Speaker, from January 2025 to May 2026, the GoldBod purchased a total of 135.843 metric tons of gold, of which 135.221 metric tons were sourced from the artisanal and small-scale mining sector. Mr Speaker, last year, 2025, the GoldBod cumulatively purchased, aggregated, and exported ASM gold totalling 104 metric tons, which generated in excess of $10 billion United States dollars for the country.
This singular achievement of the GoldBod was critical in the appreciation of the Ghana cedi by about 41% against the US dollar in 2025 and in increasing foreign reserves from about $8.98 billion in December 2024 to $13.8 billion by the end of December 2025, among others”.
The Deputy Finance Minister further disclosed that with GoldBod, the Mahama government is shifting Ghana from a regime where gold wealth was dispersed, underpriced, and smuggled.
He added, “Mr Speaker, from January 2025 to May 2026, the GoldBod expended approximately $16.1 billion on the purchase of gold, of which $9.8 billion was used between January and December 2025. Mr Speaker, the bigger policy point is that the government is deliberately shifting Ghana from a regime where gold wealth was dispersed, underpriced, and smuggled through the GoldBod.
We have a regime where gold is transparently aggregated, assayed, refined, exported, and turned into foreign exchange and reserves for the Republic with visible and tangible benefits for the entire country”.
In other news, Sammy Gyamfi, the Chief Executive Officer of GoldBod, has said they are finalising a new agreement to establish one of the World’s largest gold refineries in Ghana.
The GoldBod CEO revealed that the refinery will have a processing capacity of 600 tonnes, which will make it one of the largest on the continent.
According to Sammy Gyamfi, the sod cutting for the commencement of the project will be later this year, with completion expected in 2027.
He further disclosed that the project forms part of the government’s agenda to position Ghana as a leading gold refinery hub in Africa.
Speaking to members of the National House of Chiefs during a meeting in the Ashanti Region on Friday, May 29, Sammy Gyamfi disclosed, “We’re in the process of signing a new agreement that will see to the establishment of what is going to be one of the biggest refineries in the World in Ghana.
“We will cut a sod for the establishment this year [2026], and we hope to complete it by next year [2027]. It’s going to be a 600-tonne-capacity refinery. It will refine all the gold we produce here [Ghana]; it can also refine gold from Burkina Faso, Togo, and other places. The idea is to make Ghana a hub for gold refinery,” he announced.
Also, Sammy Gyamfi has said President John Dramani Mahama wants Ghana to establish its own Gold Souk.
Speaking on Asempa FM’s Ekosii Sen, the GoldBod CEO said, “President Mahama wants us to have our own mini gold souk like Dubai has. Dubai does not have gold, but they have a gold souk where people trade in gold jewellery.
He wants us to create a golden kilometre, and on that kilometre stretch of road, we will be selling only gold jewellery, so that if anyone comes to Ghana and wants to see our gold, they can be taken there”.
Watch the video below:
WATCH: Goldbod spends $16 billion on gold purchases between January 2025 and May 2026
— CITI FM 97.3 (@Citi973) June 24, 2026
Ministry of Finance discloses in Parliament that Goldbod expended about $16 billion on gold purchases over the period, while generating over $10 billion from gold exports in 2025 alone.
Deputy… pic.twitter.com/AwjtgYHZun
