US$279m allocated to Goldbod for gold purchases

During the presentation of the 2025 Budget Statement in Parliament on Tuesday, March 11, Finance Minister Dr Cassiel Ato Forson announced that the government would establish a revolving fund to support Ghana’s gold industry.
The fund, equivalent to US$279 million in cedis, will enable the Ghana Gold Board (GOLDBOD) to purchase and export at least three tonnes of gold per week from small-scale miners.
Dr Ato Forson emphasised that this initiative is part of the government’s broader strategy to formalise and regulate small-scale mining while boosting Ghana’s gold exports.
He noted that providing financial support to GOLDBOD would help stabilise the sector and ensure fair pricing for small-scale miners.
“Mr Speaker, we will provide a Cedi equivalent of US$279 million as a revolving fund for the Ghana Gold Board (GOLDBOD) to be able to purchase and export at least three tonnes of gold per week from small-scale miners,” he stated.
The Finance Minister reiterated the government’s commitment to supporting the mining sector, ensuring that small-scale miners operate within legal frameworks while contributing significantly to Ghana’s economic growth
Source: Classfmonline.com/Cecil Mensah
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