Ghana earns $2.7bn from GoldBod in four months – Mahama
By: Ernest Afram
President John Dramani Mahama has announced that Ghana earned $2.7 billion in gold export revenue between January and April 2025, following the successful implementation of the Goldbod initiative. The revenue was generated through exports managed by the Precious Minerals Marketing Company (PMMC) and GoldBod, a newly established framework aimed at reforming Ghana’s gold mining sector.
Speaking at the Global Mining Summit in Accra on Monday, June 2, 2025, President Mahama said the Goldbod initiative is delivering on its core objective of ensuring maximum benefits for Ghanaians from the country’s gold resources.
“The Goldbod, a key plank in my administration’s strategy to reform the gold mining sector and ensure maximum benefit for Ghanaians, has taken off. In its short existence, it has sanitized the gold sector, ensuring maximum returns from our gold exports,” he said.
He added that the $2.7 billion figure is only a starting point and is expected to rise steadily throughout the year as more reforms take effect and the initiative continues to streamline operations in the gold trade.
According to the President, the Goldbod initiative forms part of a broader strategy to transform the extractive sector. It is designed not only to increase earnings but also to curb illegal mining activities, improve transparency in the gold trade, and enhance institutional oversight across the entire value chain.
“The gains we are witnessing are the result of deliberate policy choices aimed at ensuring that our mineral wealth benefits our people. The Goldbod is helping to bring discipline and accountability into the gold export business,” he said.
President Mahama further noted that, prior to the introduction of the initiative, Ghana was losing significant revenue due to unregulated gold exports and the activities of illegal miners. He stressed that the new system allows for better monitoring, fair pricing, and proper documentation of exports, which collectively contribute to the country’s economic stability.
The Goldbod initiative is also expected to support government efforts in job creation, the formalization of small-scale mining, and the development of local businesses involved in the gold supply chain.
Industry stakeholders, including representatives from the Chamber of Mines and the Ghana Export Promotion Authority, have lauded the initiative as a timely intervention to reposition Ghana as a transparent and efficient player in the global gold market.
With gold remaining a major contributor to Ghana’s GDP and export earnings, the government’s renewed focus on regulation and reform is expected to yield long-term benefits for the economy while promoting responsible and sustainable mining practices. President Mahama assured that his administration will continue to put in place systems and partnerships that empower Ghanaians to take greater control of the country’s natural resource wealth.
