Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has attributed the nation’s impressive conservation of foreign exchange and the surge in gold-backed inflows to the efficient operations of the Ghana Gold Board (GoldBod).
Speaking on the agency’s growing influence, Dr. Forson highlighted that GoldBod—established to regulate and promote Ghana’s gold sector—has become a game-changer for the country’s economy, playing a crucial role in the Cedi’s strong performance this year. In April, Ghana’s currency was ranked the world’s best-performing, appreciating by 16.7% against the U.S. dollar and gaining both domestic and international recognition.
The Finance Minister explained that GoldBod’s centralized procurement and export strategy has helped plug foreign exchange leakages and contributed significantly to stabilizing the Cedi. These efforts have also supported the Bank of Ghana’s drive to rebuild the country’s foreign reserves, which now stand at the equivalent of four and a half months of import cover—a dramatic turnaround from the lows of the 2022 economic crisis. As of September 2025, Ghana’s gold reserves had risen to 37.06 tonnes, thanks mainly to GoldBod’s domestic purchasing framework.
Governor Johnson Asiamah told Reuters that GoldBod’s operations have strengthened investor confidence by boosting foreign reserves and enhancing the country’s fiscal credibility. Dr. Forson added that the resulting improvements in Ghana’s FX buffer have attracted renewed capital inflows and bolstered the nation’s economic resilience.
Ghana’s GoldBod model is now gaining continental recognition. In October, finance ministers from Liberia, Sierra Leone, The Gambia, Sudan, and Ghana, along with AfDB President Dr. Sidi Ould Tah, praised the initiative during a high-level meeting in Washington, D.C., on the sidelines of the 2025 IMF–World Bank Annual Meetings. The meeting commended Ghana’s approach to natural resource governance, singling out GoldBod’s positive impact on gold trading and certification.
Since its establishment in March, GoldBod has delivered around $8 billion in inflows by centralizing gold purchases and exports, ensuring that foreign currency earnings from the sector benefit Ghana directly. The GoldBod model continues to attract interest from other African nations eager to emulate Ghana’s success in gold resource management and institutional reform.
Source: Apexnewsgh.com
