Ghana’s ambitious Goldbod gold purchase initiative has delivered a windfall in its first full month, raking in over $1.1 billion in foreign exchange from the export of more than 11 tonnes of gold.
The announcement was made by Finance Minister Dr. Cassiel Ato Forson during the swearing-in of a new Board of Directors for the Minerals Income Investment Fund (MIIF), where he hailed the programme as a transformative strategy for stabilising the cedi and maximising Ghana’s mineral wealth.
“This is proof that our natural resources can be structured to serve national interest,” Dr. Forson said, urging the new MIIF board to align with the Goldbod vision and move the fund toward transparency, discipline, and long-term national value creation.
Dr. Forson did not mince words about MIIF’s troubled past, citing extensive financial mismanagement between 2019 and 2024 that led to the government cutting off funding.
“We cannot afford a repeat of that era,” he warned. “If the board restores financial discipline and puts resources to productive use, we will consider re-engaging.”
The Finance Minister also outlined plans to deepen collaboration between MIIF and Goldbod to scale up gold purchases and boost Ghana’s gold reserves, while intensifying a national crackdown on mineral smuggling. “No gold should leave this country without value returning to the Ghanaian people,” he declared.
The newly constituted MIIF board is chaired by Mr. Richard Kwame Asante, who pledged a renewed commitment to the fund’s core mandate. He is joined by Ms. Justina Amiorkor Nelson, Ms. Berl Yaa Asantewaa Asante, Ms. Mawusi Ama Mawuenyefia, Hon. Yakubu Mohammed, Hon. Alfred Okoe Vanderpuije, Mr. Robert Wisdom Cudjoe, Mr. Edward Appenteng Gyamerah, and Dr. Zakaria Mumuni.
With Goldbod off to a strong start, the government is positioning MIIF as a central pillar in broader mineral sector reforms to ensure Ghana’s resource wealth benefits citizens, not just private interests.
