News
GoldBod secures 30% of large-scale gold output for national reserves
- /home/u249204778/domains/spectator.com.gh/public_html/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 27
https://spectator.com.gh/wp-content/uploads/2026/08/WhatsApp-Image-2026-08-17-at-14.26.09.jpeg&description=GoldBod secures 30% of large-scale gold output for national reserves', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
- Share
- Tweet /home/u249204778/domains/spectator.com.gh/public_html/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 72
https://spectator.com.gh/wp-content/uploads/2026/08/WhatsApp-Image-2026-08-17-at-14.26.09.jpeg&description=GoldBod secures 30% of large-scale gold output for national reserves', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
The Ghana Gold Board (GoldBod) has joined key government institutions and the Ghana Chamber of Mines to secure 30 percent of the country’s large-scale gold production for Ghana’s strategic reserves.
The agreement was reached through a Memorandum of Understanding (MoU) under the Ghana Accelerated National Reserve Accumulation Policy (GANRAP).
The MoU was signed by GoldBod, the Ministry of Finance, the Ministry of Lands and Natural Resources, the Bank of Ghana and the Ghana Chamber of Mines, with participating mining companies also involved in the initiative.
Under the arrangement, GoldBod will serve as one of the main implementing institutions of GANRAP.
It will purchase and aggregate the gold and channel it into local refining and the accumulation of Ghana’s strategic reserves.
GoldBod, led by its Chief Executive Officer, Sammy Gyamfi, described the agreement as an important step towards strengthening the country’s economic resilience.
The initiative is expected to help Ghana build stronger foreign exchange reserves, support the stability of the cedi and reduce the country’s vulnerability to external economic shocks.
Under GANRAP, Ghana is targeting 15 months of import cover by 2028. This is significantly above the internationally accepted benchmark for adequate reserves.
The policy is also expected to reduce the country’s dependence on costly external borrowing by using Ghana’s gold resources to build its reserves.
GoldBod expressed appreciation to the Ministry of Finance, Ministry of Lands and Natural Resources, Bank of Ghana, Ghana Chamber of Mines and the participating mining companies for supporting the initiative.
The Board described the agreement as an important national undertaking aimed at using Ghana’s gold resources to strengthen the country’s economy and protect the value of the cedi.
By: Jacob Aggrey
The Upper East Regional Police Command has arrested 14 suspects for their alleged involvement in the cultivation and distribution of narcotic drugs at Daliga in the Nabdam District of the Upper East Region.
The suspects, Alex Nyaaba, Charles Keleg Dombil, Zimi Pandam, Jennifer Ziini, Tobirr Naab, Yinteng James, Tosil Wandabil, Sandanane Peehim, Borimi Nohoo, Curim Teng, Curim Kugri, Nohou Dagobila and Abane Zangbeog, were arrested on 16th August 2026 during an intelligence-led operation conducted by the Police Intelligence Directorate (PID) and the newly formed Black Cobra Team.
A search conducted during the operation led to the discovery of a large quantity of suspected narcotic drugs concealed in sacks of millet and maize. Preliminary investigations indicate that the suspected Indian hemp is cultivated alongside millet and maize to conceal the farms and evade detection.
The suspects are also believed to be major suppliers of narcotic drugs to several drug peddlers operating across the region.
The suspects are currently in Police custody and will be put before the court to face the full rigours of the law.
Archbishop Nicholas Duncan Williams has recounted how Ghana allegedly lost huge amounts of gold through illegal channels, saying some countries recorded receiving significantly more gold from Ghana than the country officially recorded as having exported.
According to him during a sermon yesterday at his church in Accra, the revelation came during a dinner he attended with some members of a ruling family in a powerful Middle Eastern country several years ago.
He explained that during the dinner, discussions turned to Ghana’s gold, and the people at the gathering told him that the amount of illegally sourced gold they had received from Ghana was far greater than the volume officially recorded by the Ghanaian government.
“They did say that the amount of illegal gold that they have received and recorded from Ghana was more than the one that was recorded by the country, the nation itself,” he recounted.
The Archbishop added that the amount of gold the country had received through such channels was about three times the quantity officially recorded as having been sold to that country by Ghana.
He described the revelation as disturbing and expressed concern about the people behind the illegal gold trade.
“It disturbed me, it really broke my heart,” he said, adding that he was told the people involved were “very, very powerful” and had significant financial resources.
Archbishop Duncan Williams further recounted that after the establishment of the Ghana Gold Board (GoldBod) under the current administration and efforts to regulate gold trading and tackle illegal mining, he received calls from people connected to the same country.
He explained that they were concerned because they were no longer getting the quantities of gold they used to obtain through the black market.
According to him, some of the people even asked whether he knew anyone at the top in Ghana who could help them regain access to the gold supply.
He noted that the amount of money involved in the gold purchases was substantial.
Archbishop Duncan Williams therefore called for prayers and intervention for Ghana, stressing the need to protect the country’s gold resources and ensure that the wealth generated from them benefits the nation.
By: Jacob Aggrey
