Ghana’s Gold Board Promises US$1.4 Billion of Dollars in September
GoldBod says it will generate US$1.4bn of foreign exchange in September, half to the banks and half to reserves. August's reported figure was US$1.315bn. The post Ghana’s Gold Board Promises US$1.4 Billion of Dollars in September appeared first on The Rio Times .
Ghana's Gold Board has projected a foreign exchange earnings target of US$1.4 billion for September 2026. The allocation includes US$700 million for commercial banks and up to US$700 million for the Bank of Ghana. In August 2026, the board reported earnings of US$1.315 billion, with US$668.21 million going to commercial banks and US$646.59 million to the central bank.
The Ghana Accelerated National Reserve Accumulation Policy (GANRAP) was implemented on August 3, 2026, and aims to provide a collaborative financing model for artisanal and small-scale mining. The September target is a projection from the Gold Board itself, while the August figure is their reported performance, neither of which has been independently audited.
The September earnings are expected to include gold exports from artisanal and small-scale miners, which must be refined in Ghana before export. However, the country only has four licensed gold refineries, and GoldBod has supply contracts with only two of them, raising concerns about refining capacity and market access. The policy's success will depend on whether Ghanaian refined output can secure market access and if the bank allocation remains strong in the coming quarter.
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