Sammy Gyamfi
The Ghana Gold Board (GoldBod), has announced that it will generate US$1.4 billion in foreign exchange in September 2026, with half of the amount expected to support foreign exchange market stability and the remaining portion provided to the Bank of Ghana for reserve accumulation.
In a statement issued on Monday, August 31, 2026, by the Finance and Trading Directorate of GoldBod, the Board said the projected inflows formed part of efforts under a new collaborative financing model introduced for its artisanal and small-scale mining gold operations.
“In September 2026, GoldBod will generate US$1.4 billion in foreign exchange, of this amount, US$700 million will be made available to the commercial banks, to support foreign exchange market stability while up to US$700 million will be provided to the Bank of Ghana for reserve accumulation,” it stated.
According to GoldBod, US$700 million of the projected foreign exchange inflows will be made available to commercial banks, while up to US$700 million will be provided to the Bank of Ghana under the Ghana Accelerated National Reserve Accumulation Policy (GANRAP).
The statement explained that implementation of the model which commenced on August 3, 2026 follows the approval of Ghana Accelerated National Reserve Accumulation Policy by Cabinet and Parliament, adding that GoldBod concluded consultations with the Ministry of Finance, the Bank of Ghana, commercial banks and other market stakeholders to establish the new financing arrangement.
GoldBod said the new arrangement had already yielded significant results, generating US$1.315 billion in foreign exchange in August 2026 out of which an amount of US$668.21 million was sold directly to commercial banks through spot sales and funded forward arrangements to support foreign exchange market stability.
It added that “a further US$646.59 million was made available to the Bank of Ghana for reserve accumulation under the GANRAP,” and said the initiative was part of its broader mandate to support Ghana’s foreign exchange needs as well as strengthen the country’s reserve position.
“GoldBod remains committed to its statutory mandate to generate foreign exchange for Ghana and will continue to work transparently with all stakeholders,” the statement added.
By Ebenezer K. Amponsah