The Bank of Ghana (BoG) has boosted its gold reserves by 4.7% in August 2025, bringing the total to 36.02 tonnes.
📊 Steady growth since January
Data from the Central Bank shows that gold holdings have grown 17.6% since the beginning of 2025, starting at 30.53 tonnes in January and climbing month after month.
This growth builds on significant progress since May 2023, when reserves stood at just 8.78 tonnes. The consistent accumulation has been a key factor in strengthening the Ghana cedi, which has appreciated 20.35% against the US dollar in 2025, despite recent currency pressures.
💡 Driven by Domestic Gold Purchase Programme
The increase in reserves is largely attributed to BoG’s Domestic Gold Purchase Programme, an initiative aimed at:
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Strengthening foreign exchange reserves
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Boosting investor confidence
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Enhancing currency stability
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Supporting foreign direct investment and economic growth
In a recent statement, the Central Bank explained:
“The gold accumulation programme is an essential tool to diversify our reserve assets, reduce vulnerability to global financial volatility, and build stronger buffers against external shocks.”
🌍 Why it matters
By increasing its gold stockpile, the BoG is creating a safer cushion for Ghana’s economy. The policy also allows the government to secure more affordable financing and improve short-term forex liquidity without over-reliance on external debt markets.
source: myjoyonline
