Ghana’s gold production is expected to increase by 3% in 2025, reaching 136 tonnes, up from an estimated 132 tonnes in 2024. This rise in output is largely attributed to significant investments in the mining sector, particularly a $525 million expansion plan for Asante Gold’s Bibiani and Chirano mines, along with the start of production at the Ahafo North gold mine. In 2023, Ghana produced 128 tonnes of gold, and the additional production capacity in the coming years will contribute to a growth trajectory for the industry. Deloitte’s West Africa in Focus report highlights that these efforts will play a crucial role in meeting the country’s gold production goals.
Alongside the increase in output, the global price of gold is expected to rise in 2025. This is largely due to more accommodating monetary policies in major economies, such as the United States and the United Kingdom, where lower interest rates will make gold more attractive to investors seeking stable assets. As a result, Ghana is poised to benefit from both higher production and increased gold prices, driving up the value of the country’s gold exports. Deloitte anticipates that Ghana’s gold revenue will rise significantly, further bolstering the country’s economic performance in the coming years.
However, while Ghana’s gold sector is projected to thrive, the cocoa industry faces continued challenges. Despite being the country’s second-largest export, cocoa production has been hindered by factors such as the spread of the swollen shoot virus, adverse weather conditions, and issues with smuggling. The international cocoa market has also been volatile, with fluctuating prices impacting the stability of the sector. For the 2025/2026 season, cocoa production is expected to rise slightly to 527,000 tonnes, up from an estimated 500,000 tonnes in 2024/2025. While production is showing some growth, the sector still faces numerous hurdles that could affect its long-term sustainability. Despite these challenges, Ghana’s cocoa industry continues to be resilient and remains a key player in the global market.
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