The Finance Minister, Dr. Cassiel Ato Baah Forson, has announced that Ghana has made over $1.1 billion in foreign exchange from the purchase and export of more than 11 tonnes of gold, just one month after the full launch of the GoldBod initiative.
Dr. Forson in a Facebook post on Tuesday, June 3, 2025, described the achievement as a major step in strengthening the Ghanaian cedi, increasing the country’s foreign reserves, and boosting local participation in the gold trade.
Speaking at the inauguration of the new Board of the Minerals Income Investment Fund (MIIF), Dr. Forson called on the new leadership to maintain the momentum. He said the Fund, which was created to invest Ghana’s mineral wealth, had faced challenges between 2019 and 2024 due to poor management and misuse of resources.
As a result, the government has cut funding to MIIF until there is a clear improvement. However, the Minister said the government is ready to fully support the Fund again if the new board, led by Mr. Richard Kwame Asante, brings back discipline and focus.
“We must not only mine gold, but also own a stake in it,” Dr. Forson stated. He added that MIIF should aim to gain equity in mining projects and help Ghanaian companies benefit more from the country’s natural resources.
He also mentioned that the government is increasing efforts to stop the illegal export of gold and other valuable minerals.
Source: GBC