The Ghana Gold Board (GoldBod) has announced the implementation of a special temporary bonus of GH₵832 per pound of gold for all permitted miners nationwide in an audacious attempt to incentivize licensed miners and crack down on gold smuggling.
As of today, Wednesday, August 27, 2025, the policy is in force.
Under the GoldBod initiative, the market price of a pound of gold, which would have sold for GH₵8,868 before this intervention, has increased to GH₵9,700.
The action is a direct reaction to licensed miners’ worries about the local gold market’s recent decline, which is mostly attributable to the Ghana cedi’s steady increase in value.
The GoldBod claims that the special bonus is intended to protect miners who have contributed significantly to increasing Ghana’s gold production and foreign exchange profits, preventing them from suffering unanticipated losses as a result of the stronger local currency, a development that they have indirectly encouraged.
The Board also promised that it has properly financed and guided its authorized dealers nationwide to ensure that all miners who sell their gold through authorized GoldBod channels receive the special incentive in a timely manner.
It is anticipated that the project will stabilize the industry and greatly lessen the incentive for illicit gold smuggling by providing incentives for compliance and resolving miners’ concerns.
But in order to hear appeals against GoldBod rulings, the Ministry of Finance formed the Gold Board Tribunal, an ad hoc appellate tribunal created under the Ghana Gold Board Act, 2025.
The ceremony was presided over by Finance Minister Dr. Ato Forson, who also formally swore in the tribunal’s inaugural leadership and charged them with upholding justice and integrity in their new role.
Source: newsthemegh.com