Business News of Monday, 23 December 2024
Source: www.ghanawebbers.com
Ghana's gold production is projected to increase by 3% in 2025, reaching 136 tonnes from an estimated 132 tonnes in 2024. This rise will be driven by a US$525 million expansion at Asante Gold’s Bibiani and Chirano mines and the commencement of production at the Ahafo North gold mine.
Gold prices are also expected to rise due to more accommodative monetary policies in developed economies, making gold more attractive as a safe-haven asset.
Meanwhile, Ghana’s cocoa exports, the second-largest export, will face challenges due to the swollen shoot virus, adverse weather, smuggling, and global price volatility.
Cocoa production for 2025/2026 is estimated at 527,000 tonnes, up from 500,000 tonnes in 2024/2025.