Ghana Gold Board Surpasses September Target with US$1.87 Billion Foreign Exchange Inflow

The Ghana Gold Board (GoldBod) has reported a significant boost to the nation's financial stability, generating US$1.871 billion in foreign exchange during September 2026. This performance comfortably exceeded the monthly target of US$1.4 billion, underscoring the critical role of artisanal and small-scale mining (ASM) gold trading in supporting the national economy. These operations are conducted under the authority of Section 2(b) of the Ghana Gold Board Act, 2025 (Act 1140), which empowers the board to manage and trade gold to enhance Ghana's foreign exchange resources.

A detailed breakdown of the September revenue shows that GoldBod exceeded its specific distribution targets for both the commercial banking sector and the central bank. Approximately US$701.3 million was sold to authorized commercial banks—surpassing the US$700 million goal—to improve liquidity and enhance stability in the foreign exchange market. More notably, US$1.17 billion was provided to the Bank of Ghana (BoG), significantly dwarfing the initial US$700 million monthly target intended for the country's foreign exchange reserves.

In a move to strengthen institutional collaboration, the Governor of the Bank of Ghana, Dr. Johnson P. Asiama, has appointed Matilda Asante-Asiedu to represent him on the GoldBod Board of Directors. As the Second Deputy Governor of the BoG, Asante-Asiedu’s appointment is aimed at fostering closer alignment between the central bank’s reserve management and GoldBod’s trading activities. This leadership update reflects the government’s broader strategy to ensure rigorous oversight and professional management of the country's precious metal assets.

Looking ahead to October 2026, GoldBod projects it will generate an additional US$1.5 billion in foreign exchange. The board plans to allocate US$1 billion to commercial banks and US$500 million to the Bank of Ghana under the Ghana Accelerated National Reserves Accumulation Programme (GANRAP). To support these objectives, a new Spot FX Sales/Intermediation Framework will be implemented to ensure greater market transparency and regulatory compliance. GoldBod remains committed to working with all stakeholders to bolster Ghana's economic resilience through proactive reserve management.