Ghana gold sector faces losses and export disruptions

Ghana’s gold sector is facing financial and logistical challenges despite rising international prices. Former Finance Minister Dr. Mohammed Amin Adam reported that the national gold purchase programme incurred substantial losses in 2025, even as gold prices rose by 62.9 per cent. He attributed these losses to exchange-rate gaps between the Bank of Ghana and forex bureaus, significant discounts given to foreign buyers, and various service and assay fees.

Separately, gold export volumes in the first half of 2026 saw a marginal decline of 0.5 per cent, totaling 2.80 million fine ounces. While export earnings rose by 49 per cent to US$12.50 billion due to higher realized prices, the Bank of Ghana and the World Bank noted that shipment disruptions caused by the Middle East conflict have impacted the value chain. To avoid disrupted routes through the United Arab Emirates, Ghana has had to reroute shipments through Shanghai and India, leading to increased logistical costs and delays.