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Gold hedging programme will target a portion of our reserves – BoG Governor

 


The Bank of Ghana Governor, Dr. Johnson Asiama, has announced plans to embark on a gold hedging programme, targeting a portion of its reserves.

According to him, his outfit is targeting all its reserves, but is currently allocating only a fraction, and could take off before the end of this year.

Dr. Asiama disclosed this in response to a question by Joy Business on the status on the planned hedging programme.

The Governor also revealed that “we are currently engaging some banks that could manage the programme and should take off in months time”.

Dr. Asiama added that this programme is part of measures to deal with future price volatilities of the commodity.

“We believe that this will help mitigate the expected commodity price volatility that could hit the country in the months, based on some predictions,” the Governor stated.

Bank of Ghana’s Gold Reserves

Recent data from the Bank of Ghana showed some steady increase in its gold reserves.

As of the end of May this year, the Bank of Ghana increased its gold reserves by 0.59 tonnes between, bringing the country’s total holdings to 32.16 tonnes as of 30 May 2025.

The Bank of Ghana in the report also acknowledged that steady accumulation underscored the central bank’s commitment to strengthening its balance sheet and enhancing economic stability.

Banking Sector Developments

Responding to questions from a cross section of journalists at the press conference , the  Bank of Ghana Governor also revealed that the banking sector is in a strong position to withstand shocks, adding that “the Financial Soundness Indicators reflected continued asset growth, improved solvency, liquidity, profitability and efficiency in the first half of the year”.

The Governor also added that his outfit is working to ensure that all commercial banks are well capitalised by the end of this year.

“We have also seen Non-Performing Loan ratio ease in June 2025 on account of lower growth of non-performing loan stock relative to credit,” Dr. Asiama stated.

He also announced that the Bank of Ghana will be taking some measure that will ensure that all players in the financial sectors strictly comply with the country’s Foreign Exchange Act.

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