Ghana’s gold reserves increased by 8.05% since January 1, 2025, to 32.99 tonnes in June

According to official data released by the central bank, Ghana’s gold reserves have grown 8.05% since January 2025, when the figure stood at 30.53 tonnes. A slight rise was first recorded on 31 January, increasing to 30.62 tonnes, and the reserves have since seen consistent month-on-month growth.

In May 2023, Ghana’s gold reserves were only 8.78 tonnes, indicating a more than threefold increase over the past year. This growth has played a crucial role in helping to stabilise the Ghanaian cedi and improve investor confidence in the country’s macroeconomic environment.

The BoG attributes the sharp rise to its Domestic Gold Purchase Programme , a strategic policy aimed at strengthening Ghana’s international reserves. The initiative is designed to improve exchange rate stability, attract foreign direct investment, and reduce reliance on external borrowing.

In an earlier statement, the central bank noted: “The gold accumulation programme is an essential tool in our efforts to diversify reserve assets, reduce exposure to global financial volatility, and provide the economy with more robust buffers against external shocks.”

By building its gold stockpile, the BoG hopes to leverage these assets to secure more affordable financing, thereby enhancing short-term foreign exchange liquidity.

This strategy allows the country to reduce its dependence on expensive external debt markets while building resilience against future economic shocks.