The Ghana Gold Board (GoldBod) has introduced a special temporary bonus package for licensed small- and large-scale miners across the country, in a bid to boost local production, improve returns for miners, and reduce the menace of gold smuggling.
Effective Wednesday, August 27, 2025, every pound of gold sold to GoldBod through its official channels will attract an extra GHC832 bonus. This means that instead of the regular market rate of GHC8,868, miners will now earn GHC9,700 per pound, representing a significant short-term incentive.
The initiative, according to GoldBod, comes after months of complaints from licensed miners over falling local gold prices, a situation linked to the continuous strengthening of the Ghana Cedi against the US dollar.
While the appreciation of the currency has helped stabilize Ghana’s economy, it has also reduced the margins of miners who depend on competitive gold prices for sustainability.
GoldBod noted that miners have played a crucial role in Ghana’s strong gold production figures, which recently helped the country consolidate its position as Africa’s leading gold producer.
Officials stressed that the bonus scheme is not just an economic incentive but also a deliberate strategy to curb gold smuggling, a practice that continues to deny the state vital foreign exchange earnings.
“To guarantee smooth implementation, the Board has provided adequate funds and directed all its licensed gold traders across the country to ensure immediate payment of the bonus to miners who transact through legitimate outlets,” said Prince Kwame Minka, Media Relations Officer at GoldBod.
He added that the measure serves a dual purpose: “This bonus is both a motivation and a safeguard. We want miners to feel recognized and fairly rewarded for their contribution to the economy, while at the same time protecting Ghana from the devastating effects of illegal gold trading and cross-border smuggling.”
Industry observers believe the incentive could help reduce illegal sales to foreign buyers who often offer miners slightly higher prices at the expense of Ghana’s official reserves. However, some analysts warn that the temporary nature of the bonus may require long-term reforms in pricing mechanisms and mining sector regulation to sustain miner confidence.
