Gold in Ghana
Why Ghana is the Land of Gold
What is the history of gold in Ghana?
What is the history of gold trade?
The history of gold trading can be traced back to ancient civilizations, where gold was used as a form of currency and as a symbol of wealth and power. In ancient Egypt, gold was mined and used to create jewelry and other decorative objects, and it was also used as a medium of exchange and store of value.
Who gave the name “Gold Coast” to Ghana?
Until its independence from British Colonial rule on 6th March, 1957, Ghana was called the “Gold Coast”, a name given it by early Portuguese explorers who first set foot on the shores of the country in the fifteenth century and discovered gold in abundance.
The tradition continues with the Ghana Goldbod.
In 2023, Ghana solidified its position as Africa’s leading gold exporter with $7.6 billion in gold shipments. The momentum carried into 2024, where a notable 30% increase in gold prices contributed to rising export revenues, bolstering the nation’s economic landscape. According to the Bank of Ghana, Ghana earned $11.6 billion from gold exports last year, up 52.6% compared to 2023.
Under the new law passed by Ghana’s parliament in March 2025 and assented to by President John Mahama on 2 April, 2025. Ghana GoldBod, as the main state-backed monopoly, is the sole buyer, assayer, seller and exporter of all gold produced by the artisanal and small-scale mining (ASM) sector which contributed $5 billion in foreign earnings from gold exports in 2024.
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