President John Dramani Mahama has announced that the Ghana Gold Board initiative has generated $2.7 billion for the Ghanaian economy within just four months of its operation.

The GoldBod, established in 2025, is tasked with overseeing, regulating, and undertaking the buying, selling, assaying, refining, exporting, and other related activities concerning gold and other precious minerals in Ghana.

According to President Mahama, the GoldBod is expected to raise even more revenue in the coming years.

Speaking at the Global Mining Summit on June 2, 2025, the President stated:
“The GoldBod, a key plank in my administration's strategy to reform the gold mining sector and ensure maximum benefit for Ghanaians from our gold resources, has taken off. In its short existence, it has sanitised the gold sector, ensuring maximum returns from our gold exports.”

Also speaking at the summit, Otumfuo Osei Tutu II lauded the efforts of the CEO of the GoldBod, Sammy Gyamfi, for redefining Ghana's gold sector.

He noted that Ghana’s longstanding challenge has not been a lack of natural resources, but rather the inability to fully capitalise on them in the competitive global market.

“Probably the most costly effect of illicit mining, to me, is the distraction from the real challenge we face—which is how we maximise the benefits of our noble heritage. We have to be true to ourselves and admit that we have not done a good job of representing and protecting ourselves in the global marketplace,” Otumfuo stated.

In his remarks, the Asantehene praised Sammy Gyamfi for his leadership at GoldBod, noting that his efforts are helping shift the national focus from reactive responses to illegal mining toward proactive strategies that secure long-term value from Ghana’s mineral wealth.

“Sammy, I thank you very much on this one,” Otumfuo said.

SSD/MA