Ghana’s formalised small-scale gold sector has delivered a massive economic boost, with exports reaching an unprecedented $6.3 billion in the first eight months of 2025, the Chief Executive Officer (CEO) of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has said.
This performance, driven by intensified government oversight and collaboration, has already surpassed the total export volume recorded for the entirety of the previous year, he revealed.
Mr Gyamfi disclosed the figures during the maiden edition of the Mining and Minerals Convention in Accra on Tuesday, September 9, 2025.
Mr. Gyamfi confirmed that between January and the end of August 2025, small-scale gold exports executed by or through GoldBod, working closely with the Bank of Ghana (BoG), amounted to 66.7 tonnes (or 66,700 kilograms).
The CEO highlighted the significance of this achievement:
“Since January up to the end of August 2025, small-scale gold exports undertaken by or through the GoldBod, working closely with the BoG, have hit a record high of 66.7 tonnes with an export value of approximately $6.3 billion.”
The 2025 eight-month performance represents a critical inflexion point for the sector, which has been plagued by issues of smuggling and unrecorded sales.
Mr. Gyamfi emphasised the substantial leap in output and value compared to the previous calendar year: “What this means is that the volume and value of small-scale gold exports from January to August 2025 alone have exceeded the total small-scale exports outturn for the whole of the year 2024. That is from January to December, which stood at 63 tonnes with a value of about $4.6 billion.”
The 66.7-tonne volume recorded by August 2025 is already 3.7 tonnes higher than the full-year 2024 total.
Additionally, the $6.3 billion earned in eight months surpasses the 2024 full-year value by nearly $1.7 billion, indicating both increased volume and favourable pricing on the global market. This marks a 37% increase in dollar value realised from small-scale gold exports.
This surge in formalised gold exports is directly attributable to the establishment of the GoldBod and its stringent regulatory regime designed to formalise the artisanal and small-scale mining (ASM) sector, which often faced scrutiny over environmental damage (galamsey) and opaque financial dealings.
Gold, traditionally Ghana’s top export commodity, plays a critical role in stabilising the country’s foreign exchange reserves and strengthening the Ghana Cedi.
The increased U.S. dollar inflow from these recorded exports provides essential liquidity to the Ghanaian economy, aiding in debt servicing and import cover.
The average realised price per tonne for the 2025 period stood at approximately $94,453 per kilogram, reflecting the robust performance of gold on the international commodity exchange market amidst global economic volatility.
The figures suggest that government strategies aimed at reducing illicit gold outflows and ensuring miners sell their produce through official channels—namely GoldBod and the Bank of Ghana—could be yielding significant results, positioning Ghana to cement its status as one of Africa’s leading gold producers.