GoldBod buys nearly 2 tonnes of gold to strengthen Ghana’s reserves – Sammy Gyamfi

The Ghana Gold Board (GoldBod), led by Chief Executive Officer Sammy Gyamfi, has acquired nearly two metric tonnes of gold to bolster the nation's reserves and bolster Ghana's economic resilience. Mr. Gyamfi stated that this purchase forms part of GoldBod's mission to manage Ghana's gold resources effectively, thereby delivering more economic value to the country.

He emphasized that GoldBod's activities are instrumental in formalising the domestic gold market and ensuring that the gold produced in Ghana directly contributes to strengthening the country's reserves. The acquisition is significant as it converts part of the domestic gold production into a strategic financial asset, supporting the government's goal of building stronger reserves and reducing vulnerability to external economic shocks.

Mr. Gyamfi highlighted that GoldBod's interventions, including formalising gold trading, improving traceability, licensing market participants, and ensuring a larger share of the value generated from Ghana's gold remains within the economy, are among the achievements since the Board's inception. He affirmed that GoldBod will continue to collaborate with relevant state institutions to enhance Ghana's reserve position and maximise the contribution of gold to economic stability, demonstrating how the country can leverage its natural resources for stronger financial buffers.