Deputy Finance Minister Thomas Ampem Nyarko has told Parliament that from January 2025 to May 2026, the Gold Board expended approximately US$16.1 billion on the purchase of gold, of which US$9.8 billion was used between January and December 2025.

Speaking on the floor of Parliament on Wednesday, June 24, he said a significant portion of the expenditure was recorded in 2025.

“Mr. Speaker, from January 2025 to May 2026, the Gold Board expended approximately $16.1 billion on the purchase of gold, of which $9.8 billion was used between January and December 2025,” he stated.

The Deputy Minister explained that the policy direction behind the Gold Board’s operations represents a deliberate shift from an unregulated system to a more structured and transparent gold economy.

He told Parliament that the government is transforming how gold wealth is managed in the country.

“The bigger policy point is that government is deliberately shifting Ghana from a regime where gold wealth was dispersed, underpriced, and smuggled through the Gold Board,” he said.

According to him, the new framework ensures that gold is properly accounted for across the value chain, from aggregation to export, with benefits accruing to the national economy.

“We have a regime where gold is transparently aggregated, assayed, refined, exported, and turned into foreign exchange and reserves for the Republic with visible and tangible benefits for the entire country,” he stated.

Mr. Ampem Nyarko further disclosed that the government is strengthening institutional coordination to combat illegal mining and improve compliance within the sector.

“To enhance regulatory compliance and sustainability, the Ghana Gold Board strengthens its collaboration with the National Anti-Illegal Mining Operations Secretariat to address illegal mining,” he said.

He stressed that the Gold Board plays a strategic role beyond commercial gold purchases, describing it as central to Ghana’s economic sovereignty.