GoldBod generates $1.87bn for September FX; exceeds target

The Ghana Gold Board (GoldBod) reported generating US$1.871 billion from its artisanal and small-scale mining (ASM) gold trade operations in September 2026, surpassing its target of US$1.4 billion. The funds were generated in accordance with GoldBod's mandate under Section 2(b) of Act 1140, which requires it to aid Ghana's foreign exchange requirements.

Out of the total amount, US$701.3 million was sold to authorized commercial banks, narrowly surpassing the US$700 million target to stabilize the foreign exchange market. An additional US$1.170 billion was provided to the Bank of Ghana (BoG), significantly exceeding the BoG's US$700 million objective to bolster the nation's foreign exchange reserves.

GoldBod stated that these September figures highlighted its ongoing role in Ghana's foreign exchange market and reserve-building initiatives. For October 2026, GoldBod anticipates generating US$1.5 billion through its operations, with plans to allocate US$1 billion to commercial banks to maintain market stability and up to US$500 million to the BoG to stimulate reserve accumulation as part of the Ghana Accelerated National Reserves Accumulation Programme (GANRAP).

The month's allocations will be conducted under GoldBod's recently established Spot FX Sales/Intermediation Framework, aimed at enhancing transparency, equity, and regulatory adherence in the sale and management of foreign exchange. GoldBod reaffirmed its dedication to its statutory duty to generate foreign exchange for Ghana, expressing a continued commitment to collaborate with the Bank of Ghana, commercial banks, and other stakeholders.