Ghana's Gold Reserves Surge to 31.37 Tonnes in April 2025
Accra, Ghana - 06 May, 2025 - Ghana's official gold reserves have reached 31.37 tonnes as of April 2025, according to the Bank of Ghana. This represents a nearly fourfold increase from 8.78 tonnes in May 2023.
The central bank's gold accumulation strategy aims to bolster foreign reserves, enhance financial stability, and diversify asset holdings.
Ghana, the continent's largest gold producer, is taking measures to formalize its small-scale mining industry, aiming to harness more of the sector's output for national development purposes.
The GoldBod, a regulatory body established by President John Dramani Mahama, has played a crucial role in boosting local gold reserves.
Notably, GoldBod negotiated a landmark agreement with nine large-scale mining firms, including Golden Team Mining Company Limited, Akroma Gold Limited, Adamus Resources Limited, Cardinal Namdini Mining Limited, Goldstone Akrokeri Limited, Earl International Group (GH) Limited, Xtra Gold Mining Limited, Prestea Sankofa Gold Limited, and Gan He Mining Resource Development Limited, to sell 20% of their gold output to the domestic market.
This agreement is expected to further strengthen Ghana's domestic gold reserves and insulate the economy from external shocks.
The move is part of the Bank of Ghana's broader plan to reduce reliance on traditional foreign currencies and enhance financial stability.
Source: Lead News Online
