Good News For Sammy Gyamfi as Mahama Makes Big Announcement

President John Dramani Mahama has praised the Ghana Gold Board (GoldBod) for helping to improve Ghana’s economic prospects through initiatives designed to reform the gold trading industry and enhance the country’s management of its mineral resources.

The President made the remarks on Monday, October 19, 2026, while speaking at the Mining in Motion Conference in Accra, where he called for a more strategic approach to exploiting Ghana’s natural resources for national development.

Mr Mahama emphasised that Ghana must move beyond exporting unprocessed minerals and focus on building local industries capable of processing raw materials into higher-value products. He noted that expanding domestic processing would enable the country to capture more revenue from its mineral wealth.

He identified GoldBod’s operations and the government’s gold refining policy as important components of efforts to increase local participation in the gold industry. According to the policy’s objectives, strengthening domestic refining capacity could create new opportunities for Ghanaian businesses and professionals.

The initiative is also expected to support the development of specialised services, including gold testing, assaying and refining, while ensuring that a greater proportion of the value generated from the country’s gold resources circulates within the local economy.

GoldBod plays a significant role in efforts to formalise and regulate gold trading, particularly within the artisanal and small-scale mining sector. Bringing more transactions into regulated systems is intended to improve transparency, strengthen monitoring and enhance the management of foreign exchange earnings from gold exports.

The President’s comments reflect the government’s wider strategy to reform the mining sector, encourage industrial development and increase the industry’s contribution to Ghana’s economic growth.

The Mining in Motion Conference assembled government officials, mining companies and other industry stakeholders to discuss investment opportunities, policy reforms and approaches to increasing the economic benefits African countries obtain from their mineral resources.

Discussions at the event also focused on expanding local processing facilities, supporting indigenous businesses and promoting responsible mining practices that contribute to sustainable development.

The government’s broader objective is to transform Ghana’s mining industry from one heavily reliant on raw mineral exports into a sector that supports manufacturing, creates jobs, develops technical expertise and generates additional economic opportunities.

Through reforms involving gold trading, refining and local value addition, the administration hopes to retain more of the wealth generated from Ghana’s mineral resources and establish mining as a stronger driver of long-term economic development.

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