Ghana’s Parliament has approved a new bill establishing the Gold Board (GoldBod) to regulate the country’s gold trade. The move is aimed at curbing smuggling, formalizing small-scale mining, and increasing foreign exchange earnings to stabilize the national currency, hence the economy.
Ghana’s Parliament has passed the Gold Board Bill 2025, creating a new regulatory body to oversee the country’s gold trade and increase foreign exchange earnings.
The Gold Board, known as GoldBod, will regulate transactions, control gold purchases and exports, and serve as the sole buyer of gold from legal small-scale miners. This aims to curb smuggling, improve traceability, and formalize the sector.
Gold is Ghana’s top mineral export, accounting for over 90% of total mineral shipments and around 40% of the country’s foreign exchange earnings. Mining also contributes 5.7% to GDP.
Finance Minister Cassiel Ato Forson says the initiative will enhance Ghana’s participation in the entire gold value chain—from extraction to refining and marketing—creating jobs and increasing government revenue.
This move aligns with the government’s broader strategy to maximize natural resource benefits, generate wealth, and stabilize the foreign exchange market.
