Ghana has secured $1.17 billion in foreign exchange from the Goldbod programme after its first full month of operation, according to Finance Minister Dr. Cassiel Ato Forson.
The amount came from the purchase and export of over 11 tonnes of gold, a major step toward stabilising the cedi and getting more local players involved in the gold trade.
Speaking at the swearing-in of the new Board of Directors of the Minerals Income Investment Fund (MIIF), Dr. Forson called the Goldbod results a sign of what’s possible when Ghana’s mineral wealth is properly structured and managed.
“This is proof that smart, transparent management of our resources can deliver real value. MIIF has to plug into this renewed focus and contribute meaningfully,” he said.
Dr. Forson challenged the new board to restore MIIF’s credibility after years of mismanagement between 2019 and 2024, which led the government to suspend financial support.
“There was clear misuse of public funds. That cannot happen again,” he stated. “If this board shows it can manage resources wisely, we’re open to re-engaging.”
He also highlighted MIIF’s role in helping Ghana increase its equity in mining operations and boost local content across the sector. Plans are underway, he said, to scale up the Goldbod programme in collaboration with MIIF and build Ghana’s gold reserves.
In a broader reform push, the Minister announced tougher action against illegal mineral exports, stressing that no gold or other precious minerals should leave the country without going through the right channels and benefiting the state.
The newly inaugurated MIIF board is chaired by Richard Kwame Asante. Other members include Justina Amiorkor Nelson, Berl Yaa Asantewaa Asante, Mawusi Ama Mawuenyefia, Hon. Yakubu Mohammed, Hon. Alfred Okoe Vanderpuije, Robert Wisdom Cudjoe, Edward Appenteng Gyamerah, and Dr. Zakaria Mumuni.
Speaking on behalf of the board, Mr. Asante pledged to rebuild public confidence in MIIF and ensure its work supports Ghana’s national development goals.
