The Bank of Ghana (BoG) has grown its gold reserves to 31.37 tonnes as of April 30, 2025, continuing a strategic buildup aimed at strengthening the country’s foreign exchange position and monetary stability.
This marks a steady increase from 31.01 tonnes in March 2025 and a significant jump from just 8.78 tonnes in May 2023, reflecting a more than threefold rise over two years.
The accumulation is largely driven by BoG’s Domestic Gold Purchase Programme, launched to reduce reliance on foreign borrowing and improve the stability of the Ghanaian cedi.
By leveraging Ghana’s status as a leading gold producer, the central bank is using domestic resources to buffer against external shocks and global financial volatility.
Officials say the reserves will also serve as collateral for cheaper international loans, enhancing liquidity while lowering borrowing costs.
The initiative supports the central bank’s broader strategy of diversifying Ghana’s reserve portfolio away from U.S. Treasury instruments toward hard assets like gold.