Gold Board to curb smuggling, boost FX inflows [Video]

The Ghana Gold Board’s establishment is expected to positively impact the cedi by boosting foreign exchange earnings.

Finance minister Dr. Cassiel Ato Baah Forson described the initiative as a vital reform to address inefficiencies in Ghana’s gold sector, which remains fragmented and uncoordinated despite being Africa’s leading gold producer.

Speaking at the inauguration, Dr. Forson highlighted the need to move beyond traditional revenue sources such as royalties and taxes which have limited the country’s economic benefits from gold.

He stated: “Historically, Ghana’s revenues from gold have been confined to traditional sources such as royalties and taxes. The Ghanaian economy has not realised the full benefit of our gold resources. The time has come for Ghana to expand beyond royalties and taxes by harnessing the entire …