In 2024, the Ghana Chamber of Mines sold over 350,000 ounces of gold to the Bank of Ghana (BoG) under the Domestic Gold Purchase Programme. This initiative significantly bolstered the BoG’s reserves and contributed to the Ghana cedi’s appreciation against the US dollar. During a press briefing on July 23, 2025, CEO Dr. Ken Ashigbey affirmed the industry’s commitment to supporting currency stability.
He noted that the strength of the cedi is largely linked to gold sales, with a total of 358,218 ounces sold last year. Dr. Ashigbey also highlighted ongoing efforts to assist the BoG through the Voluntary Forex and Gold Purchase Initiative, which aims to further increase reserves and bolster the cedi’s value.
He emphasized the necessity of promoting these initiatives for the benefit of both the economy and the mining sector. The Chamber’s proactive measures reflect a strategic approach to maintaining financial stability in Ghana, showcasing the vital role of gold in the nation’s economic framework.