Effective January 1, 2026, the Bank of Ghana is expected to exit the gold trading business (small-scale gold transactions).
The Bank will continue its Domestic Gold Purchase Programme, but the small-scale segment will be ceded entirely to Goldbod.
In November 2025, the Governor of the Bank of Ghana, Dr Johnson Asiama, submitted a proposal to the board to exit the Artisanal Small-Scale Gold Mine (ASGM) gold trading business segment under the Domestic Gold Purchase Programme (DGPP) and cede it fully to Goldbod.
The proposal was subsequently approved.
GoldBod rejects IMF claims of $214m loss in BoG Gold-for-Reserve program
Sources say the development should help the Bank of Ghana concentrate on other segments of the DGPP and on its core mandate of inflation targeting and price stability.
The source further stated that this decision had nothing to do with the IMF publication, insisting that it was taken in November 2025.
According to a senior official at the Central Bank noted that the opinion expressed by the IMF could be described as not accurate.
This senior official noted that “We are dealing with gold and FX markets which are dynamic, and these figures they put out are not audited figures.”
Speaking to Joy Business, another senior official also told JOYBUSINESS that the Bank of Ghana is not financing the activities of GoldBod, adding that “what the Bank of Ghana is doing is just carrying out its Domestic Gold Purchase Programme through GoldBod as an agent.”
However, It is expected that in 2026, GoldBod will control the entire gold supply chain and sell the gold proceeds in USD to the Bank of Ghana in exchange for cedis for subsequent gold purchases.
SP
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