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President John Dramani Mahama is making a major move in Ghana’s gold sector, and the implications could go far beyond gold.
Through the Ghana Gold Board (GoldBod), Ghana has entered an agreement to purchase 30% of the gold output of large-scale mining companies, effective July 1, 2026. The gold will be purchased locally, refined with the goal of retaining more value in Ghana, and channelled toward the country’s strategic gold reserves.
Ghana’s Gold Revolution Begins? Mahama Makes a Major Move [SHORT VIDEO]
The policy forms part of Ghana’s Ghana Accelerated National Reserve Accumulation Programme (GANRAP) and President Mahama’s broader push to increase local value addition and reduce the export of raw minerals. GoldBod says the government wants Ghana to move toward zero raw mineral exports by 2030.
Ghana’s Gold Revolution Begins? Mahama Makes a Major Move [LONG VIDEO]
For decades, questions have been raised about how much value African countries actually retain from their natural resources. Now Ghana is attempting a different approach, keeping more gold within the country, strengthening reserves, supporting local refining and increasing state participation in the gold value chain.
Could Ghana’s GoldBod strategy become a model for other African countries? And what could this mean for multinational mining companies, international lenders and Ghana’s economic future?
