Finance Minister Dr. Cassiel Ato Forson has disclosed that the Ghana Gold Board (GoldBod) has exported 88 tonnes of small-scale gold valued at US$12 billion since January 2026, exceeding the export volume recorded by the large-scale mining sector over the same period.
The Minister said the exports were strengthening Ghana’s foreign exchange supply, supporting the accumulation of international reserves and contributing to the stability of the cedi.
Presenting the 2027 Budget Statement and Economic Policy to Parliament on Thursday, November 12, Dr Forson said GoldBod’s small-scale gold exports compared with 80.64 tonnes valued at US$10.23 billion from the large-scale mining sector.
“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 sector,” he told Parliament.
“These earnings are increasing foreign exchange supply, building reserves and supporting the stability of the cedi,” he added.
The Finance Minister said government was also pursuing measures to reduce the cost of generating foreign exchange and accumulating reserves through the gold purchase programme.
According to him, the baseline cost of generating foreign exchange under the Ghana Accelerated National Reserve Accumulation Programme (GANRAP) declined from 16 per cent in 2025 to five per cent in 2026.
“The baseline cost fell from 16 percent in 2025 to 5 percent in 2026 under GANRAP,” Dr. Forson said.
Government is targeting a further reduction to two per cent through a proposed discount on small-scale gold purchases.
“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,” he announced.
Dr. Forson said the proposed adjustment was intended to improve the sustainability of reserve accumulation while ensuring that Ghana retained greater value from its gold resources.
“These reforms will help secure greater national value from our gold while strengthening the sustainability of reserve accumulation,” he said.
He called on small-scale mining associations and licensed gold buyers to support the implementation of the proposed reforms.
“I urge the Ghana National Association of Small-Scale Miners and the Licensed Gold Buyers Associations to support the implementation of these reforms,” he stated.
He added, “Together, we can build stronger reserves at a lower cost and ensure that Ghana’s gold delivers lasting benefits to our people.”
