Professional services firm, PwC, is urging the Government and the Ghana Gold Board (GoldBod) to tackle illegal gold trade and smuggling, whilst ensuring artisanal gold bought to shore up the Bank of Ghana’s forex and gold reserves is “clean” and not contaminated by illegal and/ or irresponsible mining activities.
This was disclosed in its analysis of the 2025 Mid-Year Review Budget.
PwC reiterated the recommendation made in its Budget Digest published in March 2025, on the 2025 Budget Statement and Economic Policy, that the government must establish traceability mechanisms to ensure that the credibility of the Goldbod does not get compromised.
The GoldBod is credited with a 100% and 180% jump in artisanal gold volume and value exports, respectively, compared with the first half of 2024.
This has helped build the central bank’s buffers further, strengthening the footing of the economy.
The government considers the Goldbod as one of its bold initiatives.
According to the Finance Minister, Dr. Cassiel Ato Forson, the Goldbod has boosted small-scale gold exports by 100% (tonnage) and 180% (value), funnelling forex to reserves.
The accumulation of gold reserves at the Central Bank has helped to restore some resilience to the economy—evidenced by the cedi’s strength against major currencies despite the external environment sparked by the trade tariff shocks and conflicts.
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