We’ll allocate $279m for gold exports – Finance Minister

• Posted on March 13, 2025March 13, 2025
• by Nana Kwesi Coomson
• Comment

The Finance Minister, Dr. Cassiel Ato Forson, has announced that the government will allocate a significant sum to support small-scale miners and bolster the country’s gold export industry.

Presenting the 2025 Budget Statement to Parliament yesterday, the Finance Minister revealed that the government would provide a Cedi equivalent of US$279 million as a revolving fund for the Ghana Gold Board (GOLDBOD).

According to him, this initiative aims to enable GOLDBOD to purchase and export a minimum of 3 tonnes of gold per week from small-scale miners.

Dr. Forson emphasised that this move is part of the government’s strategy to enhance the mining sector’s contributions to Ghana’s economy.

He explained that the revolving fund will help streamline the purchasing process and ensure that small-scale miners are able to tap into the full potential of the gold export market.

“This investment will not only strengthen our gold export capacity but also empower small-scale miners who are vital to the sector. With this revolving fund, we will ensure a steady and sustainable supply of gold, reinforcing Ghana’s position as one of the world’s leading gold exporters,” Dr. Forson said.

He stated that the fund is expected to stimulate economic growth, create jobs, and further solidify the gold sector as a cornerstone of Ghana’s export-driven economy.

By Ernest Kofi Adu, Parliament House