Ghana’s artisanal and small-scale mining (ASM) sector is on course to exceed its record-breaking 2025 gold production, reinforcing the country’s position as Africa’s largest gold producer and strengthening a key pillar of its economic recovery. According to Reuters, the Ghana Gold Board (GoldBod) purchased between 50 and 54 metric tonnes of gold from ASM operators during the first half of 2026, placing the sector on track to match or surpass the 104 metric tonnes produced last year. GoldBod Chief Executive Samuel Gyamfi said current purchase volumes indicate another exceptional year for Ghana’s biggest export and foreign exchange earner.
The continued growth follows government reforms aimed at reducing gold smuggling, formalising artisanal mining, and increasing foreign exchange earnings. In 2025, Ghana’s artisanal mining sector generated nearly $11 billion in foreign exchange, surpassing the approximately $9 billion earned from large-scale mining for the first time. GoldBod’s expanded purchasing programme has played a central role in capturing more production through formal channels, supporting the country’s economic stabilisation efforts following its recent financial crisis.
Although international gold prices have eased from the assumptions used in GoldBod’s 2026 projections, officials remain optimistic that export earnings will exceed last year’s levels because average bullion prices continue to trade above 2025 averages. The sustained strength of Ghana’s gold sector is expected to boost dollar inflows, strengthen foreign reserves, and provide additional fiscal support as the country implements reforms under its International Monetary Fund (IMF) programme.
For Ghana, another record year in artisanal gold production would underscore the success of ongoing mining reforms and highlight the growing economic importance of the ASM sector. Analysts say sustained formalisation, stronger regulation, and higher production could further enhance government revenues, improve investor confidence, and reinforce Ghana’s leadership in Africa’s gold industry while supporting broader economic growth.
