By Prince Antwi
Copyright ghanaguardian
The Bank of Ghana (BoG) has received nearly 100 kilogrammes of gold from the Ghana Gold Board (GoldBod) as part of efforts to strengthen the country’s reserves and enhance monetary stability.
The announcement was made by Sammy Gyamfi, Chief Executive Officer of GoldBod, during the Mining and Minerals Convention held in Accra on Tuesday, September 9, 2025.
“So far, we have locally purchased and supplied nearly 100 kilogrammes of large-scale gold to the Bank of Ghana to augment the country’s reserves,” he said.
Mr. Gyamfi noted that foreign exchange earnings from gold exports—particularly from the artisanal and small-scale mining sector—have reached record levels this year.
The BoG’s domestic gold purchasing programme, introduced in 2021, allows the central bank to build reserves from locally mined gold instead of relying exclusively on foreign exchange or imports. The initiative is also aimed at supporting the mining sector.
As of the second quarter of 2025, Ghana’s official gold reserves stood at 32.99 tonnes, the highest in the country’s history.
Gyamfi’s update follows the passage of the Ghana Gold Board Bill, 2025, which grants GoldBod full authority to regulate the buying, selling, and export of gold and other precious minerals. Under the new law, GoldBod is the sole exporter of gold from Ghana’s small-scale mining sector, ending independent exports by licensed traders and bullion dealers.
The legislation also bans unauthorised gold hoarding, a measure designed to curb stockpiling, scarcity, and market manipulation.
The creation of the Ghana Gold Board, a flagship reform of President John Dramani Mahama’s administration, is part of broader efforts to revitalise the economy and ensure the efficient management of the country’s mineral resources.
