The Minister of Finance, Dr Cassiel Ato Forson, has announced that the government is seeking to support the Ghana Gold Board (GoldBod) with funding to purchase 3 tonnes of gold each week.

According to him, this initiative is aimed at boosting Ghana's foreign exchange reserves.

The minister made this known during a stakeholder engagement with officials from the UK-Ghana Gold Programme, an initiative dedicated to breaking the link between illegal artisanal gold mining and serious organized crime (SOC) on Monday, March 24, 2025.

In an X post shared by the minister on his page, he stressed the importance of the establishment of the GoldBod as an avenue to revolutionize Ghana’s gold sector to streamline gold purchases, trade and export, while boosting value addition.

In addition, Dr Forson said the government plans to remove the 1.5 percent withholding tax on unprocessed gold, as part of the 2025 Budget, a move expected to encourage legal gold trade and foster economic growth.

“Additionally, in a major policy shift, we will abolish the 1.5% withholding tax on unprocessed gold as part of the 2025 Budget—a move that will encourage more legal gold trade and drive economic growth. These efforts will put Ghana back in control of its gold industry, disrupt illegal networks, and ensure that our gold works for Ghanaians. This is just the beginning—together, we will build a stronger, more prosperous Ghana,” he stated.

The Ghana Gold Board is a state-owned institution mandated to regulate and promote the development of the gold industry in the country.

SP/AE

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