Finance Minister, Dr. Cassiel Ato Forson, recently met with officials from the UK-Ghana Gold Programme to discuss strategies for curbing gold smuggling and ensuring the country fully benefits from its gold resources.
The UK-Ghana Gold Programme focuses on breaking the link between illegal artisanal mining and serious organized crime, with 60 tonnes of gold—worth $1.2 billion—smuggled out of Ghana in 2022 alone.
Key outcomes from the meeting included the establishment of the Ghana Gold Board (GoldBod) to oversee gold trade, tackle smuggling, and promote responsible sourcing.
The UK/Ghana Gold Programme is working closely with the Economic and Organised Crime Office (EOCO) to combat gold smuggling at major border points.
In addition, the government will fund GoldBod to purchase 3 tonnes of gold weekly to boost foreign exchange reserves. As part of the 2025 Budget, Ghana also plans to abolish the 1.5% withholding tax on unprocessed gold, encouraging more formal trade and reducing smuggling.
The Minister also emphasized that these measures will help Ghana regain control of its gold industry, disrupt illegal trade networks, and ensure the country fully benefits from its natural resources.
He highlighted that the collaboration between Ghana and the UK marks a significant step toward ending gold smuggling and fostering a more transparent and profitable gold sector.
