Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has credited the Ghana Gold Board (GoldBod) for the cedi’s strong performance in 2025. As of May 13, the currency had appreciated by 16.7%, a milestone he described as the result of deliberate and well-coordinated policy actions.
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Speaking at the official swearing-in of the GoldBod Governing Board, Dr. Forson stated that the currency’s stability was no accident. Instead, it was due to strategic decisions, especially the operationalisation of GoldBod.
“The GoldBod has already started delivering on its mandate. Its gold reserve accumulation has played a key role in stabilising the cedi,” he noted.
Resetting the Gold Trade Landscape
According to the Finance Minister, President John Dramani Mahama introduced GoldBod as a flagship policy to restore order in the gold sector and reset the broader economy.
For years, Ghana’s gold market suffered from fragmentation, smuggling, and a lack of regulation. These issues drained valuable foreign exchange from the economy. However, that landscape has now changed.
“The chaos is over. GoldBod is now the sole buyer and assayer of gold in Ghana and holds exclusive rights to license gold trade from small-scale miners,” Dr. Forson announced.
Moreover, the creation of GoldBod has harmonized the formerly disjointed efforts of institutions such as the Bank of Ghana, PMMC, MIIF, and various private firms.
A Strategic Asset for Economic Growth
Dr. Forson emphasized that gold should no longer be viewed as just a mineral resource. In today’s global economy, it is a powerful strategic asset.
“This new model will enable more accurate forecasting and stronger foreign exchange buffers,” he said. “As Africa’s top gold producer, Ghana must harness this resource to drive sustainable economic transformation.”
He also reaffirmed the government’s trust in the Board’s ability to sustain the current momentum.
“Let’s support this transformation. The outlook for the cedi, and the economy at large, is robust, sustainable, and transformative,” he concluded.
Ghana Gold Board Members
- Mr. Kojo Fynn – Chairperson
- Mr. Samuel Gyamfi – Acting CEO, GoldBod
- Hon. Emmanuel Armah Kofi Buah – Minister for Lands and Natural Resources
- Hon. Thomas Nyarko Ampem – Deputy Minister for Finance
- Dr. Johnson Asiama – Governor, Bank of Ghana
- Mr. Nelson Ahedor – Minerals Commission Representative
- Mr. Christopher Opoku Nyarko – Ghana Chamber of Mines Representative
- Mr. Godwin Nichelson Armah – Ghana Small Scale Miners Association
- Mr. Kwaku Effah Asuahene – Chamber of Bullion Traders
- Hon. Shaibu Mahama – MP, Daboya/Mankarigu (President’s Nominee)
- Dr. Abdul Baasit Aziz-Bamba – Senior Lecturer, UG School of Law (President’s Nominee)
- Ms. Marrietta Brew Appiah-Oppong – Legal Counsel to the President (President’s Nominee)
- Nana Ama Amissah III – Paramount Queen Mother, Mankessim Traditional Area (President’s Nominee)
