Ghana’s Central Bank Gold’s holdings worth GH₵46 billion

Ghana’s gold reserves are estimated to be worth GH₵46 billion as of the end of April 2025. The central bank’s official update, released on May 6, stated that gold prices had surged to GH₵46,086.32 per ounce. Official data indicates that Ghana currently has 31.37 tons, or 1 million ounces, of total gold reserves. The reserves’ current value is approximately GH₵46 billion, calculated by multiplying the volume of gold by the spot market price. Bank of Ghana had 8.78 tons of gold in its stockpile in May 2023; by April 2025, that amount had increased to over 31 tons. This dramatic rise reflects the central bank’s attempts to strengthen economic stability amid persistent global financial instability. The plan is a component of the central bank’s “Gold for Reserves” initiative, which aims to increase foreign exchange reserves, diversify its asset portfolio, and support the stability of the Ghanaian cedi. The central bank hopes to enhance fiscal autonomy and lessen the nation’s reliance on the US dollar. Additionally, the initiative has strengthened Ghana’s position as an international reserve, providing more financial flexibility during challenging economic times. Current market trends indicate that further accumulation is still likely, even though the Bank of Ghana has not announced plans to slow down the pace of gold acquisition. Due to increased demand for safe-haven assets, rising inflation, and geopolitical unpredictability.