Ghana Ends Central Bank Gold-Buying Arrangement

The Bank of Ghana has ended its central bank gold-buying arrangement with the Ghana Gold Board (GoldBod), marking a significant shift in how the country finances its domestic gold aggregation programme.

Under the new arrangement, GoldBod raises financing directly from commercial banks and gold offtakers to purchase and aggregate gold for export and reserve accumulation. This change follows the institution's transition away from central bank funding, which began in March 2026.

The domestic gold purchase programme was established by the Bank of Ghana to increase its gold reserves by purchasing gold produced domestically. GoldBod took over the role previously held by the Precious Minerals Marketing Company (PMMC) when it was created in April 2025, continuing to purchase and aggregate gold with funding provided by the central bank.