Bank of Ghana to Withdraw from Small-Scale Gold Trading by 2026

The Bank of Ghana (BoG) has announced its decision to exit the small-scale gold trading sector effective January 1, 2026. This strategic move will transfer full control of gold trading to the Ghana Gold Board (GoldBod). The decision, approved by the bank's governor, Dr. Johnson Asiama, aims to allow the BoG to concentrate on other critical aspects of the Domestic Gold Purchase Programme (DGPP), particularly focusing on inflation targeting and maintaining price stability. Although the International Monetary Fund (IMF) has raised concerns about potential financial losses stemming from this transition, the Central Bank asserts that the decision is independent and is intended to better manage the evolving dynamics of the gold and foreign exchange markets. This shift marks a significant change in the regulatory landscape of Ghana's gold trading sector, reflecting the government's ongoing efforts to streamline operations and enhance market efficiency.