Sammy Gyamfi, CEO of the Ghana Gold Board (GoldBod), says the institution is playing a transformative role in Ghana’s economy by boosting foreign exchange inflows and stabilizing the national currency.
“GoldBod has substantially increased Ghana's foreign exchange inflows and contributed to stabilizing the cedi, with over $6 billion in annual gold export revenues,” Sammy Gyamfi stated.
In a recent statement, he emphasized GoldBod’s broader mission to reshape the gold trading industry for long-term national benefit.
“We are dedicated to transforming Ghana’s gold trading industry to maximize national benefits through responsible sourcing, supply chain traceability, value addition, and sustainability,” declared CEO Sammy Gyamfi Esq.
The recent appreciation of the Ghanaian cedi has been attributed to multiple economic factors. However, economists and financial analysts point to GoldBod’s strategic accumulation of gold reserves through the Bank of Ghana as a key driver of foreign exchange liquidity.
Ghana’s central bank gold reserves surged to 37.06 tonnes by the end of September 2025—a 21.3% increase from 30.53 tonnes in January. This marks a dramatic shift from 2023, when reserves stood at just 8.78 tonnes, offering limited support for currency stability and financial resilience.
The increase has strengthened Ghana’s foreign exchange buffer, boosted investor confidence, enhanced fiscal credibility, and encouraged capital inflows. Analysts say this signals a bold move to reposition gold not just as an export commodity, but as a strategic reserve asset.
GoldBod’s success has drawn regional attention. Sierra Leone’s Finance Minister is reportedly exploring the model for sustainable gold sector reforms, and the initiative received high praise during the 2025 IMF–World Bank Annual Meetings in Washington.
Finance Ministers from Ghana, Liberia, Sierra Leone, The Gambia, and Sudan met with the President of the African Development Bank (AfDB) Group, Dr. Sidi Ould Tah, to discuss Ghana’s pioneering approach to natural resource governance.