Finance Minister Cassiel Ato Forson has announced plans for the Ghana Gold Board to purchase up to 127 tonnes of gold annually from artisanal and small-scale miners, as part of a new policy to strengthen the country’s external reserves and stabilise the economy.
Speaking in the Parliament of Ghana, Dr Forson described the initiative as Ghana’s first comprehensive reserves-building policy, aimed at safeguarding macroeconomic stability and ensuring sustained participation in the global gold market.
“Over the next three years, the Ghana Gold Board aims to mop up about 127 tonnes of ASM gold per annum,” he said.
To achieve this target, the minister said the Gold Board would be provided with adequate funding to purchase gold continuously from local miners, including enough liquidity to acquire three to four weeks’ worth of production at any given time.
He also announced that, effective March 2026, the Ghana Gold Board will assume full responsibility for off-take agreements and the sale of all gold it procures from the artisanal and small-scale mining (ASM) sector.
The policy forms part of the government’s broader strategy to rebuild foreign reserves, ease pressure on the cedi, and support economic recovery following recent financial challenges and an IMF-backed programme.
Artisanal and small-scale mining contributes significantly to Ghana’s gold output but has long faced problems such as smuggling, illegal mining and weak regulation, which limit state revenue. Authorities believe centralising purchases under the Gold Board will improve transparency, increase official exports and boost foreign exchange inflows, while also protecting miners from exploitative middlemen.
