Ghana’s Gold Reserves Soar to GH₵46 Billion as Global Prices Climb

Ghana’s gold reserves have hit an impressive milestone, reaching a valuation of approximately GH₵46.3 billion by the end of April 2025. The Bank of Ghana made the announcement on May 6, attributing the surge to the rising price of gold, which stood at GH₵46,086.32 per ounce.

According to the central bank’s data, Ghana held 31.37 tonnes of gold as of April 30. When converted, that amounts to just over 1 million ounces (1,008,837.07). Based on the current market price, this gives Ghana’s gold stash a total value of nearly GH₵46.44 billion.

This marks a significant leap in the country’s reserves, underscoring gold’s growing role as a strategic financial asset for Ghana’s economy.

Over the past two years, the Bank of Ghana has been steadily building its gold holdings—from just 8.78 tonnes in May 2023 to over 31 tonnes now. This is part of the “Gold for Reserves” initiative, designed to diversify the central bank’s assets, stabilize the cedi, and reduce the country’s dependence on the US dollar.

The program has also helped strengthen Ghana’s foreign exchange reserves, boosting the nation’s economic resilience in an increasingly uncertain global market.

Although the Bank has not indicated whether it will increase its gold purchases further, analysts believe the upward trend in global gold prices—driven by geopolitical tensions, inflation worries, and rising demand for safe-haven assets—could motivate continued investment.

As Africa’s leading gold producer, Ghana is well-positioned to benefit from this bullish market, turning its natural resources into a pillar of economic strength.