GoldBod exports from Ghana’s artisanal and small-scale mining sector reached 88 tonnes, valued at approximately US$12 billion, in 2026, Finance Minister Dr Cassiel Ato Forson has told Parliament.
Presenting the 2027 Budget Statement and Economic Policy, Dr Forson said gold earnings had increased foreign exchange supply, strengthened international reserves and supported the cedi.
Large-scale mining companies exported another 80.64 tonnes, worth US$10.23 billion. Together, the two sectors accounted for 168.64 tonnes of gold valued at approximately US$22.23 billion.
The figures place small-scale mining ahead of the large-scale sector in both export volume and reported value, highlighting its importance to Ghana’s foreign exchange earnings.
Reserve accumulation costs fall
Dr Forson said the baseline cost of generating foreign exchange and accumulating international reserves fell from 16 per cent in 2025 to 5 per cent in 2026.
The reduction comes as government seeks to retain more value from gold purchases while using export proceeds to strengthen the country’s external financial position.
GoldBod regulates, purchases and facilitates gold exports from the small-scale mining sector. Its mandate also covers responsible sourcing, traceability and bringing gold trading into the formal system.
Discount planned for 2027
Government plans to introduce a 3 per cent discount on small-scale gold purchases in 2027, following consultations with industry stakeholders.
According to the minister, the measure is expected to bring the baseline cost of foreign exchange generation and reserve accumulation down to 2 per cent.
The proposal puts purchasing costs at the centre of the next phase of government’s gold trading programme. Its implementation will require engagement with participants across the small-scale gold supply chain.
For government, the objective is to make gold purchases more cost-effective while maintaining the flow of export earnings that supports reserves and currency stability. The proposed discount remains a measure planned for implementation in 2027.
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