Ghana Gold Board CEO Highlights Sector’s Potential for Economic Transformation

The Chief Executive Officer of the Ghana Gold Board, Mr. Sammy Gyamfi, has emphasized the crucial role the minerals and mining sector can play in transforming Ghana’s economy.

Speaking at the maiden edition of the Mining and Minerals Convention, Mr. Gyamfi noted that the sector has the potential to drive economic growth, create jobs, and increase national revenue.

Mr. Gyamfi highlighted the Ghana Gold Board’s achievements, including record-high gold exports, which have significantly contributed to Ghana’s foreign exchange reserves. In the first eight months of 2025, small-scale gold exports reached 66.7 tonnes, valued at approximately $6 billion, exceeding the total small-scale gold export outturn for the whole of 2024.

The Ghana Gold Board has implemented various initiatives to promote responsible mining practices, including aggressive licensing reforms, strengthened regulatory controls, and the introduction of a transparent pricing system.

The Board has also initiated local purchase of gold output from large-scale mining companies to augment the country’s gold reserves.

Mr. Gyamfi announced a Memorandum of Understanding with Goldstream Global DMCC, which aims to invest up to $1 billion in establishing over 300 responsible mines in Ghana. This partnership is expected to increase national gold output, create thousands of jobs, and stimulate economic growth.

The Ghana Gold Board CEO called on financial institutions to partner with the sector in crafting innovative funding models for geological investigations and mining activities.

He also emphasized the need for bold and urgent action to optimize opportunities in the minerals and mining sector for mutual benefit.

The Ghana Gold Board plans to introduce a nationwide traceability system, support the reclamation of devastated forest reserves, and provide mining communities with essential services such as potable water, modern education, and health facilities.

The Board is also working towards establishing a gold refinery and promoting local refining of gold to add value to Ghana’s mineral wealth.

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