GoldBod earns US$1.871 billion in September, beating its US$1.4 billion target
The Ghana Gold Board says most of the dollars went to commercial banks and the Bank of Ghana, and it now aims higher for October.
GoldBod bars export of unrefined gold as aide and analyst praise its role
The Vaultz News reports that fines, licence withdrawal and seizure await aggregators who skip local refineries, while commentators credit the board with steadying the cedi.
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Pinned summary · as of
The Ghana Gold Board (GoldBod) is reported to have stopped exports of unrefined gold dore from 1 September 2026, requiring local refining first. Separately, a GoldBod aide and a Nigerian analyst spoke this week in glowing terms about the board and President John Dramani Mahama's government.
What we know
- Commentators have credited the Mahama government and the Ghana Gold Board with economic gains in recent days. Annan Arhin Perry, an aide to GoldBod's chief executive Sammy Gyamfi, wrote of gains across sectors, and the analyst Dr Agbai Eke Agbai gave GoldBod credit for cedi stability.
What's disputed / unconfirmed
- The Vaultz News reported that a rule in force since 1 September 2026 outlaws the export of unrefined gold dore from Ghana and applies to all Self-Financing Aggregators and approved Offtakers. GoldBod is quoted as saying all dore must now be refined in Ghana before it leaves. No other report has confirmed the rule.
- According to The Vaultz News, existing supply contracts must carry local refining clauses, with refining costs paid before export permits are validated, and applications face checks on assaying standards, local processing and fees. Under the Ghana Gold Board Act, aggregators that avoid local facilities risk fines, loss of their licences and having consignments impounded. These details have not been confirmed elsewhere.
- GoldBod said nearly nine tonnes of the gold it aggregated has been refined in Ghana this year, and argued that local refining keeps more value in the economy and creates skilled jobs, The Vaultz News reported. The figure has not been confirmed by other reports.
- Mr Perry said in a Facebook post on Monday, 28 September, that every sector has turned around under President Mahama, in some cases substantially. Onua Online carried his remarks, and MyJoyOnline repeated them; they are the views of a GoldBod aide and have not been independently verified.
- Onua Online and MyJoyOnline reported that President Mahama recently cited a GoldBod profit of roughly GH₵896.5 million, up from GH₵178.5 million in 2024. The figure comes from the president alone and has not been checked against GoldBod accounts.
- Dr Agbai, whom Rainbow Radio Online describes as a former aide to Nigeria's ex-president Olusegun Obasanjo, said the creation of GoldBod stopped outsiders exploiting the country's gold and has kept the cedi steady. He put the currency's range at GH₵10.5 to GH₵12 and said the dollar has become less attractive. These are one commentator's claims, not confirmed by other reports.
Why it matters for Ghana
Gold is one of Ghana's main export earners, so the rules for how it is refined and sold abroad bear on jobs at local refineries, on foreign exchange and on the cedi that traders and households use daily. Small-scale miners and the aggregators who buy from them would have to adjust their contracts if the refining requirement is confirmed. Claims about a steadier cedi and record profits are the views of supporters, and readers should treat them as such until official figures are published.
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