The Bank of Ghana has released data showing a significant increase in Ghana’s gold reserves.
From 19.5 tonnes in 2023, the reserves rose to 30.5 tonnes in 2024, valued at $2.7 billion. This represents a 56% increase.
According to the Bank of Ghana, the rise in reserves is part of its efforts to strengthen the economy, particularly through its Gold for Oil Policy and Domestic Gold Purchasing Programme.
The programme aims to protect the economy from external shocks, boost foreign exchange reserves, and enhance Ghana’s global market position.
The increased gold reserves are expected to help control inflation, reduce the impact of currency fluctuations, and increase investor confidence.
VKB/MA
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