Use part of $8b generated by GoldBod to fight galamsey — Franklin Cudjoe

Franklin Cudjoe, President of IMANI Africa, has suggested that a portion of the funds generated by the Ghana Gold Board (GoldBod) could be redirected to strengthen efforts against illegal mining.

According to him, the Lands and Natural Resources Minister should not need to rely on appeals to Corporate Ghana when GoldBod itself has accumulated significant earnings from gold exports.

Reacting to reports that GoldBod earned $8 billion from small-scale gold exports, Cudjoe said a fraction of this revenue could support lawful miners while curbing galamsey activities.

In a social media post, he said: “Impressive!! Now, it should be easy for us to fund the illegal mining fight with a fraction of this amount so we can keep buying cleaner gold and not from illegal miners. The Lands Minister should not need to beg for money from Corporate Ghana to fight illegal mining. After all, GoldBod is interested in buying clean gold? Non?”

Figures from GoldBod and the Precious Minerals Marketing Company show that small-scale miners exported 81,719.23 kilograms of gold between January and October 15, 2025, generating US$8.06 billion. This represents a sharp increase from US$4.61 billion in 2024 and nearly four times the US$2.19 billion recorded in 2023.

Cudjoe noted that the consistent growth reflects improved oversight, transparency, and compliance in the small-scale mining sector. Significant contributions came during May (US$1.17 billion), June (US$957.9 million), and April (US$897.6 million), highlighting strong activity in the second quarter.

GoldBod credited its collaboration with PMMC for curbing illicit gold trade and ensuring that proceeds from exports are properly reintegrated into the local economy.

The surge in revenue presents an opportunity for the government to use some of these resources to fund anti-galamsey initiatives, strengthen legal mining operations, and enhance Ghana’s economic resilience.