Finance Minister, Cassiel Ato Forson has revealed significant strides in Ghana’s gold sector in the 2026 budget statement.
Presenting the budget on the floor of Parliament on Thursday, November 13, 2025, Mr. Forson highlighted the Ghana Gold Board’s (GoldBod) efforts in reshaping the country’s gold value chain.
“Our collective efforts have stabilised the cedi, reduced inflation to single digits, restored fiscal discipline, and revived growth,” he said, reflecting on 2025’s achievements.
According to the budget document, small-scale gold exports surged to a record 81.7 tonnes, valued at approximately US$8.1 billion between January and October 2025.
Large-scale gold exports amounted to an estimated value of US$6.6 billion for the same period, with small-scale gold exports exceeding large-scale production in both volume and value for the first time.
Mr. Forson mentioned some key initiatives, including removal of the 1.5 per cent withholding tax on unprocessed small-scale gold in the 2025 Budget contributed to the sector’s growth.
He further noted that GoldBod has partnered with the Bank of Ghana to support reserve accumulation, with 137.7 kilograms of gold purchased and added to official reserves.
He added that plans are underway to establish a “Gold Village,” a continental hub for gold jewellery design, manufacturing, and export.
The budget also indicates that a comprehensive Gold Traceability System will be rolled out in 2026 to ensure every gram of gold purchased can be traced to its verified, licensed, and environmentally compliant origin.
Mr. Forson emphasized the government’s commitment to transparency and accountability, stating that “these steps reaffirm our commitment to integrity and accountability in public service.”
The government aims to position Ghana as Africa’s centre for high-value gold craftsmanship through domestic refining capacity expansion and partnerships with local refineries.
