GoldBod projects $1.4b foreign exchange inflow in September

The Ghana Gold Board (GoldBod) projects $1.4 billion in foreign exchange (FX) in September, with half earmarked to stabilise the market.

The announcement follows Cabinet and Parliamentary approval of the Ghana Accelerated National Reserve Accumulation Policy (GANRAP).

A statement issued in Accra said GoldBod had concluded consultations with the Ministry of Finance, the Bank of Ghana, commercial banks and other stakeholders on a new collaborative financing model for artisanal and small‑scale mining gold operations.

The statement said implementation of the model commenced on August 3, 2026.

It said that GoldBod generated $1.315 billion in foreign exchange in August under the arrangement, of which $668.21 million was sold directly to commercial banks through spot sales and funded forward arrangements to support market stability.

An amount of $646.59 million was also made available to the Bank of Ghana for reserve accumulation under GANRAP.

For September, GoldBod said $700 million of the projected $1.4 billion would be channelled to commercial banks to support foreign exchange stability, while another $700 million would be provided to the Bank of Ghana for reserve accumulation.

The statement said the arrangement formed part of efforts to strengthen Ghana’s foreign exchange position and build international reserves. It noted that the new financing model would enable GoldBod to continue generating foreign exchange while collaborating with key institutions in the financial sector.

GoldBod reaffirmed its commitment to its statutory mandate of generating foreign exchange for Ghana and said it would continue to work transparently with the Ministry of Finance, the Bank of Ghana, commercial banks and other stakeholders.

Source: GNA