Ghana’s Mahama Rides Economic Wave for Gold Boom
In a recent interview with The Africa Report on July 12, 2025, Ghana’s President John Dramani Mahama credited a remarkable rebound in gold and cocoa exports—with respective increases of 76% and 300%—for stabilizing the cedi, easing inflation, and boosting investor confidence. Gold & Cocoa Surge Gold exports rose 76% year-over-year in early 2025, now valued at over $5 billion. Cocoa shipments skyrocketed 300%, further strengthening Ghana’s commodity-driven recovery. Reforms Steering the Boom Mahama enacted reforms including amendments to the Public Procurement Act, budget cuts, and fiscal discipline to comply with IMF benchmarks. A central trading body, GoldBod, launched early 2025, helped push official gold exports to 55.7 tonnes (~$5 bn) in five months, and brought in $2.7 bn from January to April. Tackling Illegal Gold Trade Mahama also established a task force to curb gold smuggling (“galamsey”), backed by security forces, informants’ rewards, traceability […]