The Bank of Ghana has received delivery of 100 kilogrammes of large-scale gold as part of efforts to strengthen the country’s reserves.
While speaking at the Mining and Minerals Convention in Accra, he said that the gold was supplied by GoldBod, the state-backed entity responsible for managing Ghana’s gold trade.
“So far, we have locally purchased and supplied nearly 100 kilogrammes of large-scale gold to the Bank of Ghana to augment the country’s reserves,” he announced.
He added that foreign exchange earnings from gold exports, particularly from the artisanal and small-scale mining sector, had reached unprecedented levels this year.
His announcement comes after Parliament passed the Ghana Gold Board Bill, 2025, in March, giving the Board full authority to regulate the buying, selling, and export of gold and other precious minerals.
Under the new law, Goldbod has been designated as the sole exporter of gold from Ghana’s small-scale mining sector, a move that prevents licensed traders and bullion dealers from exporting independently.
The law also prohibits individuals from hoarding gold without proper authorisation, a measure aimed at preventing stockpiling, scarcity, and price manipulation in the sector.
The establishment of the Ghana Gold Board, spearheaded by President John Dramani Mahama, forms part of broader reforms to revitalise the economy and ensure effective management of the country’s gold resources.
