Ghana Allocates US$279 Million to Gold Board in 2025 Budget

The Ghanaian government has allocated US$279 million for the Ghana Gold Board to purchase and export gold from small-scale miners. Additionally, GH¢13.85 billion will be dedicated to the Big Push Programme targeting critical areas like agriculture and infrastructure. The government aims to enhance social protection programs and regulate the gold industry effectively.

The government of Ghana has designated a revolving fund of approximately US$279 million for the Ghana Gold Board (GOLDBOD) to facilitate the acquisition and export of a minimum of three tonnes of gold per week from small-scale miners. This initiative was unveiled by Finance Minister Dr. Cassiel Ato Forson during the 2025 Budget Statement presentation on March 11, emphasizing the government’s focus on key policy initiatives.

Moreover, Finance Minister Dr. Forson announced a budget allocation of GH¢13.85 billion for the Big Push Programme, which aims to advance development by concentrating on essential sectors such as agriculture, infrastructure, and industrialization. This flagship program is intended to stimulate investments and create jobs, ultimately enhancing the quality of life for citizens.

In his remarks, Dr. Forson indicated that the government would persist in implementing reforms and increasing budgetary provisions to fortify four targeted social protection programs, including the National Health Insurance Scheme (NHIS), the Livelihood Empowerment Against Poverty (LEAP) Programme, the School Feeding Programme, and the Capitation Grant.

The Ghana Gold Board is a state-owned entity responsible for regulating and promoting the development of Ghana’s gold industry. Its primary function is to ensure that the gold sector operates efficiently and sustainably while contributing to national economic growth and regulating the gold mining industry responsibly.

Additionally, the Big Push Programme is designed to address economic challenges, foster job creation, and elevate living standards across various sectors, demonstrating the government’s commitment to national development and economic improvement.

In summary, the 2025 Budget of Ghana includes a substantial allocation of US$279 million for the Ghana Gold Board to support small-scale gold miners, as well as GH¢13.85 billion for the Big Push Programme targeting essential sectors. The government’s continued commitment to enhancing social protection initiatives and promoting responsible gold industry practices is evident through these allocations. Overall, such policies aim to spur economic growth and improve the quality of life for Ghanaians.

Original Source: www.graphic.com.gh