{"id":20540,"date":"2025-05-19T14:21:28","date_gmt":"2025-05-19T14:21:28","guid":{"rendered":"https:\/\/expressnewsghana.com\/?p=20540"},"modified":"2025-05-19T14:44:55","modified_gmt":"2025-05-19T14:44:55","slug":"finance-minister-inaugurates-ghana-gold-board-attributes-cedis-gains-to-gold-sector-reforms","status":"publish","type":"post","link":"https:\/\/expressnewsghana.com\/?p=20540","title":{"rendered":"Finance Minister Inaugurates Ghana Gold Board, Attributes Cedi\u2019s Gains to Gold Sector Reforms"},"content":{"rendered":"<p><strong>The Minister for Finance, Dr. Cassiel Ato Forson, has officially inaugurated the Governing Board of the Ghana Gold Board (GoldBod), charging the newly sworn-in members to use their expertise to reposition gold as a key driver of Ghana\u2019s economic transformation.<\/strong><\/p>\n<p>Speaking at the inauguration ceremony in Accra, Dr. Forson underscored the vital role of the gold sector in national development and highlighted how the government, under the leadership of President John Dramani Mahama, is harnessing Ghana\u2019s rich mineral resources to secure long-term economic growth.<\/p>\n<p>\u201cThe gold industry is central to our economic revival agenda. With proper regulation and strategic investment, we can transform it into a sustainable source of revenue, job creation, and foreign exchange,\u201d he stated.<\/p>\n<p>Dr. Forson attributed the recent strengthening of the Ghana cedi\u2014recording a 16.7% appreciation year-to-date as of May 13, 2025\u2014to interventions led by the GoldBod, which has begun implementing measures to stabilize the gold trade and enhance national gold reserves.<\/p>\n<blockquote><p><strong><em>\u201cThe cedi\u2019s strong performance is not accidental. It is the result of a robust and coordinated policy framework, including the operationalisation of the Ghana Gold Board,\u201d he said.<\/em><\/strong><\/p><\/blockquote>\n<p>According to the Finance Minister, GoldBod has already started fulfilling its core mandate of formalizing the gold trade, accumulating reserves, and serving as the sole buyer and assayer of gold from Ghana\u2019s small-scale mining sector. This, he said, has helped reduce smuggling, improve regulation, and support the Bank of Ghana&#8217;s efforts in managing the country\u2019s foreign exchange position.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter size-full wp-image-20542\" src=\"https:\/\/expressnewsghana.com\/wp-content\/uploads\/2025\/05\/WhatsApp-Image-2025-05-19-at-13.22.07_742fc8b7.jpg\" alt=\"\" width=\"1080\" height=\"678\" \/><\/p>\n<p>\u201cFor too long, our gold sector was fragmented, dominated by unregulated players, and plagued by smuggling, costing the nation valuable foreign exchange. That chaos has come to an end,\u201d he declared.<\/p>\n<p>He praised GoldBod as a flagship initiative of President Mahama, aimed at resetting the Ghanaian economy and restructuring key sectors for sustainable growth.<\/p>\n<p>\u201cThis institution is a strategic pillar in our broader economic revitalisation plan,\u201d Dr. Forson added. \u201cGold is no longer just a mineral commodity\u2014it is now a strategic national asset.\u201d<\/p>\n<p>The Finance Minister also emphasized the importance of moving away from outdated institutional models and creating a unified structure for the gold value chain. By streamlining the roles of entities like the Bank of Ghana, Precious Minerals Marketing Company (PMMC), the Minerals Income Investment Fund (MIIF), and other stakeholders, GoldBod is expected to create coherence and boost investor confidence.<\/p>\n<p>Dr. Forson expressed confidence that GoldBod\u2019s continued success will help stabilize the currency and strengthen Ghana\u2019s macroeconomic fundamentals.<\/p>\n<p>\u201cWith GoldBod fully operational, the future of the cedi\u2014and the Ghanaian economy\u2014is robust, sustainable, and transformative,\u201d he affirmed. \u201cLet us work together to propel President Mahama\u2019s reset of the economy to success.\u201d<\/p>\n<p>Chairman of the newly inaugurated board, Mr. Kojo Fynn, assured the Minister and the public of the board\u2019s commitment to delivering results. \u201cWe are fully committed to the mandate of this institution and will work diligently to elevate the gold trade for the benefit of Ghana\u2019s economy,\u201d he said.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter size-full wp-image-20543\" src=\"https:\/\/expressnewsghana.com\/wp-content\/uploads\/2025\/05\/WhatsApp-Image-2025-05-19-at-13.22.07_666f8784.jpg\" alt=\"\" width=\"1280\" height=\"854\" \/><\/p>\n<p><img decoding=\"async\" class=\"aligncenter size-full wp-image-20544\" src=\"https:\/\/expressnewsghana.com\/wp-content\/uploads\/2025\/05\/WhatsApp-Image-2025-05-19-at-13.22.07_b4a43b39.jpg\" alt=\"\" width=\"1280\" height=\"854\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Minister for Finance, Dr. Cassiel Ato Forson, has officially inaugurated the Governing Board of the Ghana Gold Board (GoldBod), charging the newly sworn-in members [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":20541,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1592],"tags":[],"class_list":["post-20540","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Finance Minister Inaugurates Ghana Gold Board, Attributes Cedi\u2019s Gains to Gold Sector Reforms - Express News Ghana<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/expressnewsghana.com\/?p=20540\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Finance Minister Inaugurates Ghana Gold 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