Bank of Ghana’s 10 Billion Dollar Support Boosts Economy as Ghana Gold Board Emerges Key Driver

The Bank of Ghana’s disclosure that it has provided 10 billion dollars in foreign exchange support since January 2025 signals a strong step in Ghana’s ongoing economic rebound. The support has helped Independent Power Producers, met commitments to bondholders, enabled dividend payments, and strengthened overall debt management. These interventions have helped steady the economy, restore investor confidence, and bring more predictability to the financial system.

Behind this progress is one of the country’s youngest but most impactful institutions, the Ghana Gold Board, also known as GoldBod. Created to reform and formalise the small scale gold mining sector, the Board was given the task of building a transparent national gold purchasing system, reducing losses from unregulated activity, and ensuring that Ghana’s gold resources contribute directly to national development.

A major part of GoldBod’s work is supplying gold and generating foreign exchange for the Bank of Ghana’s reserves. In just one year, the institution has grown into a crucial source of foreign exchange, contributing significantly to the reserves that enabled the central bank to provide the historic 10 billion dollar support.

Before GoldBod came along, the small scale gold sector was largely informal, with widespread smuggling and unregulated sales causing the country to lose billions in potential foreign exchange. Without a structured process for turning locally mined gold into reserve assets, the Bank of Ghana often faced difficulty during periods of currency pressure and global uncertainty.

GoldBod has changed that narrative. Through a structured gold purchasing programme, a clear pricing system, and formal engagement with miners and aggregators, it has created a dependable and accountable flow of gold for national use. This gold is converted into foreign exchange, which has strengthened the central bank’s ability to stabilise the cedi and meet important financial obligations.

Its work has increased gold deliveries to the central bank, expanded regulated buying channels, and reduced smuggling and illegal outflows. By keeping more of the country’s gold value within the economy, GoldBod has improved the Bank of Ghana’s capacity to respond to demands from power producers, creditors, and local markets.

GoldBod plans to deepen its impact in the coming years. It is widening its operational reach, strengthening links across the mining value chain, and aligning its growth strategies with the central bank’s medium term reserve goals. The Board aims to sustain a steady flow of gold and foreign exchange that protects the cedi, supports macroeconomic stability, and strengthens Ghana’s long term financial resilience.

As the Bank of Ghana marks this milestone, GoldBod stands out as a strategic partner whose performance has become central to the country’s renewed economic confidence. Together, both institutions are showing that with transparency, efficiency, and responsible management of resources, Ghana can fully benefit from its natural wealth and build lasting stability for its people.