The Ghana Gold Board (GoldBod) has been acknowledged by President John Dramani Mahama as a significant factor in stabilizing the economy.
President Mahama asserts that the nation’s current reserves of US$13.8 billion, up from US$8.9 billion at the conclusion of 2024, are primarily attributable to GoldBod, whose accomplishments have contributed to the enhancement of these reserves.
During the 2026 State of the Nation Address (SONA) delivered in Parliament on Friday, February 27, 2026, President Mahama remarked that the formalization of gold exports has diminished smuggling and augmented the State’s revenue from this sector.
“Mr. Speaker, our reserves currently amount to US$13.8 billion, an increase from US$8.9 billion at the end of 2024. This figure represents 5.7 months of imports. A crucial factor in this success has been the establishment of the Ghana Gold Board,” he stated.
The President further elaborated, “By formalizing gold exports, we have curtailed smuggling, increased the recorded exports in the artisanal and small-scale mining sector from 66.3 tonnes to 103 tonnes, and we have directed that foreign exchange into our economy.”
He also emphasized the positive effects of a stabilized currency on households and businesses, which he claims result in tangible advantages for the populace.
“Mr. Speaker, when the cedi stabilizes, imported inflation decreases, household incomes rise, and businesses can plan more effectively,” he remarked.
In further comments regarding the implications of the reserves, President Mahama expressed that the increased reserves will provide a buffer for the economy against external shocks.
“Mr. Speaker, as global uncertainty escalates, it is imperative for us to minimize our country’s vulnerability to external shocks, disrupt the cycle of economic downturns, and protect our macroeconomic stability.
