Ghana’s central bank says the country’s gold reserves have reached 31.37 tonnes by the end of April 2025, marking a sharp increase from 8.78 tonnes in May 2023.
The Bank of Ghana attributes the rise to its Domestic Gold Purchase Programme, a strategic initiative aimed at boosting the country’s foreign exchange reserves and reducing dependency on the US dollar.
Officials say the programme has allowed the bank to purchase gold directly from local producers, enhancing economic stability and increasing confidence in Ghana’s monetary policy.
The move comes as Ghana also signed agreements with nine more large-scale mining companies to sell 20% of their refined gold to the central bank. These partnerships are expected to further strengthen the reserves and improve the country’s ability to withstand external economic shocks.
“The accumulation of gold is a critical part of our broader strategy to ensure macroeconomic resilience,” a Bank of Ghana spokesperson said.
Keep following gheducate.com for credible news and updates.
