Government will introduce a 3 per cent discount on small-scale gold purchases in 2027 as part of measures to reduce the cost of foreign exchange generation and strengthen the sustainability of Ghana’s reserve accumulation programme.
Finance Minister Dr. Cassiel Ato Forson announced the proposed adjustment during the presentation of the 2027 Budget Statement and Economic Policy to Parliament on Thursday, November 12.
He said the measure, which will be implemented in consultation with industry stakeholders, is expected to reduce the cost of generating foreign exchange under the Ghana Accelerated National Reserve Accumulation Programme (GANRAP) from five per cent to two per cent.
“The baseline cost fell from 16 percent in 2025 to 5 percent in 2026 under GANRAP,” Dr Forson told Parliament.
He added: “To reduce this cost further to 2 percent, Government will, in consultation with industry stakeholders, introduce a 3 percent discount on small-scale gold purchases in 2027.”
The proposed discount comes as the Ghana Gold Board (GoldBod) continues to play a significant role in the country’s foreign exchange generation and reserve accumulation efforts.
Since January 2026, GoldBod has exported 88 tonnes of small-scale gold valued at US$12 billion, compared with 80.64 tonnes valued at US$10.23 billion from the large-scale mining sector over the same period.
“These earnings are increasing foreign exchange supply, building reserves and supporting the stability of the cedi,” the Finance Minister said.
Dr Forson explained that the proposed reform was intended to secure greater national value from Ghana’s gold resources while making the reserve accumulation process more sustainable.
“These reforms will help secure greater national value from our gold while strengthening the sustainability of reserve accumulation,” he said.
He urged the Ghana National Association of Small-Scale Miners and the Licensed Gold Buyers Associations to support the implementation of the proposed measure.
