The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, says the institution is on course to meet or exceed its 2025 gold purchase and export targets while significantly increasing foreign exchange earnings.
He said the Board remained committed to its mandate of generating foreign exchange, supporting the accumulation of national reserves and regulating Ghana’s gold trading sector.
Speaking before Parliament’s Public Accounts Committee on Tuesday, October 13, 2026, Mr Gyamfi also highlighted progress in local gold refining, noting that the initiative was helping Ghana retain more economic value from its gold resources.
“This year we are on track to at least meet and possibly exceed our 2025 gold purchase and export targets, as well as substantially exceeding our foreign exchange generation targets for the year 2025, which was 10.8 billion United States dollars,” he said.
Mr Gyamfi disclosed that between 80 and 90 per cent of the gold purchased and exported by GoldBod was now refined locally, a shift from previous practices under which much of the gold left the country without undergoing local refining.
“I’m happy to report to this honourable committee that, as we speak, about 80 to 90 per cent of the gold we purchase and export is refined here locally,” he told the committee.
According to him, the development is creating employment opportunities, particularly for young people, as local refineries operate around the clock and retain refining fees that would otherwise be paid to facilities abroad.
“That means jobs for the unemployed youth because these refineries are operating 24/7, employing Ghanaians, and the refining fees which would have ended up in export destinations are being retained in our economy,” he said.
The GoldBod CEO further explained that silver generated as a by-product of gold refining was also being retained in Ghana, helping to generate foreign exchange and provide raw materials for the domestic fabrication industry.
He said the retention of silver and other by-products was supporting local industrial activity and enabling the country to derive greater economic benefits from its mineral resources.
GoldBod was established to regulate and promote Ghana’s gold trading sector, particularly the purchase and export of gold from the small-scale mining industry, while strengthening foreign exchange generation and supporting the country’s national reserves.
