Minister for Finance Dr. Cassiel Ato Forson has disclosed Ghana has earned over $1.1 billion in foreign Exchange from gold export under the GOLDBOD initiative in a just a month.
According to the finance minister the amount is proceeds from the export of more than 11 tonnes of gold since the Goldbod policy commenced full operations.
“I’m pleased to announce that Ghana has earned over $1.1 billion in foreign exchange from the purchase and export of more than 11 tonnes of gold—just one month after the Goldbod initiative commenced full operations.”
Dr. Forson described the development as “a major milestone in our efforts to strengthen the cedi, build reserves, and increase local participation in the gold trade.”
In a post of social media Dr. Cassiel Ato Forson revealed he has charged the new Board of the Minerals Income Investment Fund (MIIF) to “pursue significant equity in mining ventures and ensure Ghanaian businesses benefit meaningfully from our natural resources”
Dr. Forson decried what he terms mismanagement of the Minerals Income Investment Fund under the previous administration calling on the new management to restore discipline and focus.
“At the inauguration of the new Board of the Minerals Income Investment Fund (MIIF), I urged the incoming leadership to sustain this momentum. MIIF was created to strategically invest Ghana’s mineral wealth—but between 2019 and 2024, its operations were marred by poor governance and resource mismanagement. That must change.” He posted on Facebook
According to him government will restore full financial flows to the fund if new board is able to turn things around.
“Until a clear turnaround is evident, government has reduced financial flows to MIIF. However, if the new Board—under the leadership of Mr. Richard Kwame Asante—restores discipline and focus, we will re-engage fully.”
“Ghana must not only mine gold—we must own a stake in it. MIIF must pursue significant equity in mining ventures and ensure Ghanaian businesses benefit meaningfully from our natural resources.”
Dr. Forson warned government is rolling out measures to curb smuggling minerals outside the country.
“We are also stepping up anti-smuggling operations to curb the unaccounted export of precious minerals”
