The Ghana Gold Board (GoldBod) has announced the introduction of a special temporary bonus aimed at incentivizing licensed gold miners and discouraging illicit gold trading.
Effective immediately, all licensed miners across the country will receive an additional GHS832 per pound of gold sold to the GoldBod. This initiative raises the official local price from GHS8,868 to GHS9,700 per pound.
The move comes in response to concerns raised by licensed miners over the recent decline in local gold prices, largely attributed to the strengthening of the Ghana cedi.
While the currency’s appreciation has benefited the broader economy, it has inadvertently reduced the income of local miners who sell gold in cedi terms.
According to the Gold Board, the bonus is designed to ensure that miners—whose work has significantly contributed to the country’s rising gold output and enhanced foreign exchange reserves—are not penalized by the very economic gains they have helped to secure.
The GoldBod has directed its network of licensed gold traders nationwide to implement the bonus scheme immediately, ensuring that miners receive the full adjusted price for their gold sales.
This strategic incentive is also expected to reduce the appeal of gold smuggling by making the formal market more attractive and profitable for miners.
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