The Ghana Gold Board (GoldBod) expects its foreign exchange performance this year to exceed its 2025 benchmark of US$10.8 billion, Chief Executive Officer Sammy Gyamfi has told Parliament’s Public Accounts Committee.

Appearing before the committee on Tuesday, October 13, 2026, Mr Gyamfi said the institution was also on course to match or surpass its gold purchase and export targets for 2025.

“This year we are on track to at least meet and possibly exceed our 2025 gold purchase and export targets, as well as substantially exceeding our foreign exchange generation targets for the year 2025, which was 10.8 billion United States dollars,” he said.

Mr Gyamfi said GoldBod’s operations continued to support its mandate to generate foreign exchange, build national reserves and regulate gold trading.

He also highlighted increased local refining, saying between 80 and 90 per cent of the gold the Board purchases and exports now undergoes refining in Ghana.

“I’m happy to report to this honourable committee that, as we speak, about 80 to 90 per cent of the gold we purchase and export is refined here locally,” he said.

According to him, the shift is creating jobs and allowing the country to retain refining fees that would otherwise be paid overseas.

“That means jobs for the unemployed youth because these refineries are operating 24/7, employing Ghanaians, and the refining fees which would have ended up in export destinations are being retained in our economy,” he said.

Mr Gyamfi added that silver recovered during the refining process was being retained in Ghana, providing raw materials for local fabrication and contributing to foreign exchange generation.

He said keeping these by-products in the country was helping to strengthen domestic industrial activity and increase the economic benefits of gold production.

GoldBod was established to oversee and promote gold trading, particularly purchases and exports from the small-scale mining sector, while improving foreign exchange generation and the value Ghana derives from its gold resources.