GoldBod Achieves Remarkable Growth, Reaching $8 Billion Milestone
By: Isaac Darko Boamah
The Ghana Gold Board (GoldBod) has reported an impressive surge in gold exports, with the small-scale mining sector generating over $8 billion in foreign exchange earnings between January and October 15, 2025. This substantial revenue growth underscores the sector’s pivotal role in Ghana’s economic landscape.
Notable Export Figures
- 81,719.23 kilograms of gold were exported during this period, valued at approximately $8.06 billion.
- This represents a significant increase from $4.61 billion in 2024 and nearly quadruple the $2.19 billion achieved in 2023.
- The consistent upward trend in gold exports reflects improved regulation, transparency, and compliance within the sector.
Key Factors Driving Growth
The Ghana Gold Board attributes the remarkable growth to its collaborative efforts with the Precious Minerals Marketing Company (PMMC) to strengthen oversight and curb illicit trade. This partnership has ensured proper repatriation of gold sale proceeds into the Ghanaian economy. Significant monthly gains were recorded in:
- May: $1.17 billion
- June: $957.9 million
- April: $897.6 million
Economic Implications
The surge in gold export earnings is expected to bolster Ghana’s foreign reserves and support the country’s ongoing economic recovery efforts. With global gold prices remaining strong, Ghana’s gold sector is poised for continued growth, driving economic development and fiscal stability.