Ghana to Launch Gold Board in March to Boost Revenue and Curb Smuggling

Ghana will establish a Gold Board in March 2025 to regulate gold purchases, reduce smuggling, and maximize national revenue, Finance Minister Cassiel Ato Forson announced on Monday.

The Gold Board will serve as the sole buyer of gold, working through licensed aggregators and traders to streamline operations and replace the current unregulated system.

This, initiative will also align with international standards set by the London Bullion Market Association, prohibiting dealings with gold linked to human rights abuses, environmental harm, or illegal activities.

The move comes as Ghana seeks to harness the full value chain of its gold sector, beyond reliance on royalties and taxes.

In 2024, gold exports reached $11.64 billion, a 53.2% increase from the previous year, contributing significantly to a trade surplus of $4.98 billion.

As Africa’s leading gold producer, Ghana aims to stabilize its currency and ensure sustainable growth in the sector.

 

 

 

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