Mahama administration boosts Ghana's gold reserves to $13.8bn - Sammy Gyamfi
Sammy Gyamfi, Chief Executive Officer of the Ghana Gold Board (GoldBod), stated on Sunday, August 9, on X Spaces, that Ghana's gold reserves increased from about US$8.9 billion to US$13.8 billion under President John Mahama's administration. He said, "The Mahama government has increased Ghana's gold reserve from 8.9 billion dollars to 13.8 billion dollars."
Mr. Gyamfi attributed this increase to government measures aimed at strengthening the gold sector and ensuring Ghana derives greater economic value from its mineral resources. These measures include strengthening the domestic gold value chain, increasing local refining, and improving oversight of gold trading activities. GoldBod is profiling licensed gold buyers to improve traceability and establish gold sources, and has assumed a broader role in gold buying and selling, including associated foreign exchange transactions with the central bank. Increased local refining is a key component of the strategy to retain value domestically.
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Sammy Gyamfi, CEO of the Ghana Gold Board (GoldBod), has provided an update on Ghana's gold reserves under President John Mahama's administration.
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