Kofi Ahovi

  The Bank of Ghana (BoG) has announced plans to relaunch the gold coin as part of its Cedi at 60 commemorative program, aimed at deepening public access to gold ownership and enhancing financial inclusion. Speaking at a125th MPC press briefing on Wednesday, July 30, 2025, Governor of the Bank of Ghana said the initiative is designed to ensure that every Ghanaian has the opportunity to own a form of gold, reflecting the country’s heritage as one of the world’s leading gold producers. “Even though there is a lot of interest in the Gold Coin, we need to relaunch it as part of the Cedi @60 programmes. We are coming back stronger on that programme. Every Ghanaian should be able to buy some form of gold, and that is exactly what this program intends to achieve,” he said. The move comes at a time when global demand for gold remains strong, and Ghana continues to prioritize gold in its reserves management and currency stabilization efforts. The Ghana Gold Coin was officially introduced as...

  The Bank of Ghana (BoG) has officially introduced the Ghana Gold Coin (GGC) as a new financial instrument to diversify investment options for the public. As of November 26, 2024, the coins are available in three denominations: 1.00 oz, 0.50 oz, and 0.25 oz. Their prices are set at GH₵45,020.48, GH₵22,409.74, and GH₵11,188.12, respectively. The pricing is based on the previous day’s London Bullion Market Association (LBMA) PM gold price, which stood at $2,635.40, and the Bloomberg USD to GHS exchange rate of 15.7500. The BoG aims to offer the public an innovative investment avenue while bolstering the country’s financial instruments portfolio. As part of the domestic gold programme, this initiative seeks to absorb excess liquidity in the market and strengthen the local currency against major trading currencies. This strategic move aligns with the Bank of Ghana’s efforts to stabilise the economy and promote investment in Ghana’s gold reserve.

  The Institute of Economic Affairs (IEA) has expressed reservations about the Bank of Ghana’s newly launched Ghana Gold Coin (GGC), which the central bank asserts will encourage savings and improve liquidity in Ghana’s financial markets. The IEA suggests that positioning the gold coin as an alternative to the dollar is, in essence, an acknowledgement of deeper economic challenges driving Ghanaians to prefer foreign currency holdings. The IEA argues that rather than promoting a new asset, the central bank should focus on tackling the root causes of dollar demand, which stem from Ghana’s economic instability. The Bank of Ghana unveiled the Gold Coin initiative on September 27 as part of its domestic gold programme aimed at absorbing excess liquidity and strengthening the cedi against major international currencies. However, in its latest bi-monthly report, the IEA questioned the rationale behind introducing an alternative asset to reduce dollar demand without addressing the underlyi...