GoldBod Ditches Central Bank Funding, Shifts to 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 programme. Under the previous arrangement, GoldBod received funding from the central bank to purchase gold on its behalf.

However, since March 2026, GoldBod has transitioned to self-funded gold aggregation, mobilising financing directly from commercial banks and gold offtakers to support gold export and reserve accumulation. This move is expected to strengthen GoldBod's operational independence while positioning it as a key player in Ghana's formal gold value chain.

The CEO of GoldBod, Sammy Gyamfi, explained that the new financing model has produced positive results, enabling the institution to mobilise substantial volumes of gold for export and reserve accumulation. He noted that the previous structure involved recurring costs associated with foreign exchange transactions, which are now eliminated under the new arrangement.