GoldBod Ditches Bank of Ghana Financing for Self-Funded Gold Aggregation

The Ghana Gold Board (GoldBod) has ended its role as a gold-buying agent for the Bank of Ghana, marking a significant shift in the country's domestic gold purchasing program.

According to CEO Sammy Gyamfi, Esq., GoldBod stopped receiving funds from the central bank to purchase gold on its behalf in March 2026. Since then, it has transitioned to mobilizing its own financing from commercial banks and gold offtakers to support gold aggregation for export and reserve accumulation.

Gyamfi explained that under the previous structure, the Bank of Ghana bore the costs associated with gold aggregation, but GoldBod is now using a more independent financing model. This new approach has allowed the institution to strengthen its operational independence while continuing to mobilize substantial volumes of gold for export and reserve accumulation.

The shift to self-funded gold aggregation is expected to further position GoldBod as a key player in Ghana's formal gold value chain and broader foreign exchange mobilization efforts. The institution, established in April 2025, has already seen positive results from the new arrangement, with increased foreign exchange inflows contributing to improvements in Ghana's foreign exchange position.