GoldBod generated $1.315bn in Forex in August, $1.4bn to be generated in September

The Ghana Gold Board (GoldBod) anticipates generating US$1.4 billion in foreign exchange revenue in September 2026 as part of its commitment to bolster Ghana's foreign exchange market and bolster the nation's reserves. This projected figure, outlined in a statement by GoldBod's Finance and Trading Directorate on August 31, comprises US$700 million earmarked for commercial banks to bolster market stability, and the remaining US$700 million for accumulation in the Bank of Ghana's reserves under the Ghana Accelerated National Reserve Accumulation Policy (GANRAP).

GoldBod's projection is predicated on the recent approval of GANRAP by the Cabinet and Parliament, following which the Board engaged in discussions with the Ministry of Finance, Bank of Ghana, commercial banks, and other market stakeholders to establish a collaborative financing framework for artisanal and small-scale mining gold operations.

Implementation of this new model commenced on August 3, 2026. In August 2026, GoldBod generated US$1.315 billion under this collaborative model, with US$668.21 million transacted directly with commercial banks through spot sales and forward arrangements, and US$646.59 million allocated to the Bank of Ghana for reserve accumulation under GANRAP.

GoldBod reaffirmed its dedication to its statutory role in generating foreign exchange for Ghana and its resolve to collaborate transparently with all stakeholders. The September projection represents an increase of approximately US$85 million over the August figure of US$1.315 billion.