Goldbod initiative earns Ghana $2.7 billion in four months – President Mahama

 

President Mahama reveals that the Goldbod initiative generated $2.7 billion in gold exports in four months, with reforms boosting transparency and sustainability in Ghana’s mining sector.

President John Dramani Mahama has announced that Ghana has earned $2.7 billion in revenue from gold exports between January and April 2025, following the launch of the Goldbod initiative a cornerstone of his administration’s gold sector reform agenda.

Speaking at the Global Mining Summit and the Mining in Motion Conference in Accra, President Mahama described Goldbod as a key pillar in efforts to sanitise the gold mining industry and ensure Ghanaians benefit fully from the country’s vast mineral resources.
“The Goldbod, a key plank in my administration’s strategy to reform the gold mining sector and ensure maximum benefit for Ghanaians from our gold resources, has taken off,” he said. “In its short existence, it has sanitised the gold sector, ensuring maximum returns from our gold export.”
He explained that the $2.7 billion in earnings, generated through the Precious Minerals Marketing Company (PMMC) and Goldbod, is expected to rise steadily as reforms take deeper root.

“Ghana’s gold export earns the country 2.7 billion. Ghana’s gold export through the PMMC and Goldbod earns the country 2.7 billion dollars between January and April, and this figure is expected to increase exponentially throughout the year.”

The initiative forms part of a broader strategy to curb illegal mining, improve institutional oversight, and boost transparency across the gold value chain.

A key feature of the programme is the upcoming launch of a track-and-trace system to monitor the source of gold and ensure that mining is conducted sustainably.

President Mahama reaffirmed the commitment of Ghana Gold Board (Goldbod) to pursue London Bullion Market Association (LBMA) certification, which would elevate Ghana’s global gold trade reputation.

Also speaking at the event, Asantehene Otumfuo Osei Tutu II praised the leadership of Goldbod CEO Sammy Gyamfi, emphasizing that Ghana’s challenge has never been a lack of resources but rather the inability to fully maximise their value.

Probably the most costly effect of illicit mining to me is the distraction from the real challenge we face, which is how we maximize the benefits of our noble heritage,