DEGLORY GH MEDIA

Ghana's gold reserves have experienced a significant boost, reaching 31.37 tonnes in April 2025, marking a notable increase from 8.78 tonnes recorded in May 2023. This surge is part of a broader initiative by the Bank of Ghana (BoG) to diversify the nation's reserve assets and reduce its reliance on traditional foreign currency reserves.

The increase in gold holdings has been driven in part by the Domestic Gold Purchase Programme. Under this programme, the Bank of Ghana has entered into agreements with nine large-scale mining companies, which are now required to sell 20% of their gold production to the central bank. This strategic move is intended to strengthen the country's foreign exchange position by increasing its gold reserves, providing a more stable buffer against global economic fluctuations.

By accumulating gold reserves, Ghana is positioning itself to bolster investor confidence and shield its economy from external shocks. The country’s move to leverage its gold resources is also aimed at enhancing macroeconomic stability and reducing dependence on more expensive forms of foreign borrowing.

The continued growth in the gold reserves is seen as a positive step in improving the nation's financial security, ensuring that Ghana’s economic stability remains resilient amid global uncertainties.