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Ghana Gold Board launches $1 billion mining support program

A $1 billion support program is being rolled out to boost Ghana’s gold production.

The Ghana Gold Board (GoldBod) has unveiled a $1 billion Mining Support Program (MSP) aimed at boosting responsible mining, increasing gold output, and creating thousands of jobs across the sector.

The announcement was made by GoldBod Chief Executive Officer, Sammy Gyamfi, during the maiden edition of the Mining and Minerals Convention at the Kempinski Gold Coast Hotel in Accra on Tuesday, September 9, 2025. He explained that the MSP will provide financing solutions to the artisanal and small-scale mining (ASM) sector, which has emerged as a critical driver of gold exports.

According to Mr. Gyamfi, the program will focus on supporting environmentally-friendly mining equipment, geological investigations, and the development of blocked-out mineralized areas. He disclosed that a Memorandum of Understanding had already been signed with Goldstream Global DMCC for up to $1 billion investment to establish more than 300 responsible mines.

“This crucial Mining Support Program will increase national gold output and create thousands of jobs in the mining ecosystem. The goal is to transform ASM into a sector that is both productive and sustainable,” he said.

Mr. Gyamfi also revealed that the Minerals Commission had released 10 mineralized areas to the GoldBod for this initiative, with more expected in the coming weeks. He added that partnerships with the Ghana Geological Survey Authority and private geological companies would strengthen data-driven mining practices.

Highlighting the potential of the MSP, Mr. Gyamfi urged financial institutions to partner with GoldBod to craft innovative funding models for mining. He argued that African banks and pension funds must reorient investments towards the mining sector to unlock long-term benefits.

The GoldBod CEO emphasized that the MSP will not only boost production but also ensure environmental sustainability, community development, and fair distribution of mining revenues. “We must fund the minerals and mining sector differently. With courage and capital, we can transform it together,” he concluded.