Deputy Finance Minister Thomas Ampem Nyarko has disclosed that the Ghana Gold Board has licensed a total of 1,184 gold-buying companies as of May 31.

Speaking on the floor of the Parliament on Wednesday, 24th June, the Deputy Minister disclosed that the licensed entities form part of a structured regulatory framework designed to strengthen transparency and efficiency within the gold trade.

“As of 31st May 2026, the Gold Board had licensed a total of 1,184 buyers, including two aggregators, 67 self-financing aggregators, 736 tier 2 buyers, and 379 tier 1 buyers,” he said.

He explained that under the licensing regime, all approved buyers are mandated to source gold exclusively from licensed miners, with the product ultimately sold to the Gold Board for aggregation, processing, and export.

According to him, “under the terms and conditions of their licenses, these buyers are required to purchase gold exclusively from licensed miners for onward sale to the Gold Board.”

Mr Ampem Nyarko further revealed that between January 2025 and May 2026, the Gold Board purchased a total of 135.843 metric tonnes of gold, with the overwhelming majority sourced from the artisanal and small-scale mining (ASM) sector.

“From January 2025 to May 2026, the Gold Board purchased a total of 135.843 metric tonnes of gold, of which 135.221 metric tonnes were sourced from the artisanal and small-scale mining sector,” he said.

He also highlighted the Board’s performance in 2025, noting that it cumulatively purchased, aggregated, and exported 104 metric tonnes of ASM gold, which generated over US$10 billion for the country.

“Last year, 2025, the Gold Board cumulatively purchased, aggregated and exported ASM gold totalling 104 metric tonnes, which generated in excess of US$10 billion for the country,” he said.

The Deputy Minister linked the sector’s performance to broader macroeconomic gains, including a significant appreciation of the cedi and a rise in national reserves.

“This singular achievement contributed to about a 41 percent appreciation of the cedi against the US dollar in 2025 and increased foreign reserves from about US$8.98 billion in December 2024 to US$13.8 billion by the end of December 2025,” he stated.

He further disclosed that from January 2025 to May 2026, the Gold Board expended approximately US$16.1 billion on gold purchases, with US$9.8 billion spent in 2025 alone.

“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,” he noted.

Mr. Ampem Nyarko emphasised that the policy direction behind the Gold Board’s operations is aimed at transforming Ghana’s gold sector into a more structured and value-retaining system for the state.

“The bigger policy point is that government is deliberately shifting Ghana from a regime where gold wealth was dispersed, underpriced, and smuggled to 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 explained.

He noted that the board is strengthening collaboration with the National Anti-Illegal Mining Operations Secretariat to curb illegal mining activities and improve regulatory compliance across the sector.

He added that the Gold Board’s mandate extends beyond purchasing gold, describing it as a strategic national asset management institution.

“I want to emphasise that the Gold Board is not just about buying gold. It is about capturing Ghana’s gold for Ghana’s balance sheet, Ghana’s reserves, and Ghana’s economic sovereignty,” he said.