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 increasing foreign exchange earnings.
He said the Board remained committed to its statutory 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, Gyamfi said GoldBod was also increasing the proportion of gold refined locally before export to retain more economic value in the country.
“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.
Gyamfi disclosed that between 80 and 90 per cent of the gold purchased and exported by GoldBod was now being refined in Ghana, compared with previous practices in which much of the gold left the country without 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 said.
He said the development was creating jobs for Ghanaians, particularly young people, while ensuring that refining fees remained within the domestic economy instead of being 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 added that silver recovered as a by-product of gold refining was also being retained in Ghana, contributing to foreign exchange earnings and providing raw materials for the local fabrication industry.
He said retaining silver and other by-products was helping to support domestic industrial activity and increase the economic benefits derived from the country’s gold 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 sector, while strengthening foreign exchange generation and ensuring the country derives greater value from its gold resources.
