In a bold move to motivate licensed miners and clamp down on gold smuggling, the Ghana Gold Board (GoldBod) has announced the introduction of a special temporary bonus of GH₵832 per pound of gold for all licensed miners nationwide.
The policy takes effect today, Wednesday, August 27, 2025.
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With this intervention, the market price of a pound of gold—which would have sold for GH₵8,868—has been boosted to GH₵9,700 under the GoldBod initiative.
The measure comes in direct response to concerns raised by licensed miners over the declining local value of gold in recent months, a trend largely attributed to the sustained appreciation of the Ghana cedi.
According to the GoldBod, the special bonus is designed to cushion miners who have played a critical role in boosting Ghana’s gold output and foreign exchange earnings, ensuring they do not bear unintended losses as a result of the stronger local currency—a development they themselves have indirectly supported.
The Board further assured that it has adequately resourced and directed its licensed traders across the country to guarantee prompt payment of the special bonus to all miners who sell their gold through official GoldBod channels.
By incentivizing compliance and addressing miners’ concerns, the initiative is expected not only to stabilize the sector but also to significantly reduce the temptation for illegal gold smuggling.
However, the Ministry of Finance inaugurated the Gold Board Tribunal, an ad-hoc appellate body established under the Ghana Gold Board Act, 2025, to hear appeals against decisions of the GoldBod.
Finance Minister, Dr. Ato Forson, presided over the ceremony and formally swore in the tribunal’s first leadership, charging them to uphold integrity and fairness in their new mandate.
