In a bold move to expand investment opportunities for Ghanaians and stabilize the local currency, the Bank of Ghana (BoG) has launched the Ghana gold coin under its domestic gold purchase program. The new investment vehicle was announced during the Monetary Policy Committee (MPC) press conference by the Governor of the Bank of Ghana, Dr. Ernest Addison.
The Ghana gold coin will be available on the market in two weeks and offers investors the chance to buy gold in various denominations. These will include half-ounce and quarter-ounce coins, catering to different investment levels.
Addressing the media, Dr. Addison highlighted the importance of the initiative, emphasizing that it would provide a viable alternative to holding foreign currency, particularly the U.S. dollar, for investment purposes. “If you don’t buy dollars, you will buy treasury bills or bonds. We are giving you an opportunity from the domestic gold purchasing program to also buy gold. This is what we are trying to launch now, and we call it the Ghana gold coin,” he said.
The gold coins will be distributed through commercial banks across the country, making them easily accessible to potential investors. According to Dr. Addison, the coins are made from dory gold mined in Ghana and refined to 99% purity, ensuring their high quality.
The initiative aims to reduce the demand for foreign currency, ease pressure on the local cedi, and give Ghanaians a tangible, long-term investment option.
More updates to follow.
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