Goldbod rakes in $1.17 billion after first full month—Finance Minister

Finance Minister Dr. Cassiel Ato Forson announced that Ghana earned over $1.1 billion in foreign exchange. This revenue came from the Goldbod gold purchase program during its first full month. The country exported more than 11 tonnes of gold, marking a significant achievement.

Dr. Forson spoke at the inauguration of the new Board of Directors for the Minerals Income Investment Fund (MIIF) in Accra. He urged the board to build on Goldbod's success and create long-term value from Ghana’s mineral resources.

“This shows what can be achieved when we manage our mineral wealth well,” he said. He emphasized that MIIF must align with this vision. The Minister also challenged the board to focus on responsible and transparent mineral investment.

He noted that MIIF faced severe mismanagement between 2019 and 2024, leading to government withdrawal of support. “We saw significant abuse of public resources,” he stated, adding that this must not happen again.

Dr. Forson encouraged the board to restore discipline and use resources wisely. If they succeed, he said, the government would reconsider its position on funding MIIF.

He highlighted MIIF’s role in increasing Ghana’s equity in mining operations and promoting local content. Plans are underway to collaborate with MIIF and Goldbod to expand the gold purchase initiative further.

As part of broader reforms, Dr. Forson announced a crackdown on mineral smuggling. He pledged increased oversight to ensure no precious minerals leave Ghana without proper processes.

The newly inaugurated MIIF board is chaired by Mr. Richard Kwame Asante. Other members include Ms. Justina Amiorkor Nelson, Ms. Berl Yaa Asantewaa Asante, and others.

Mr. Asante promised that the board would work to rebuild public confidence in MIIF and align its operations with national development priorities.