The Bank of Ghana’s gold reserves surged to 32.99 tonnes at the end of June 2025, up from 32.16 tonnes in May 2025.
According to data from the Bank of Ghana, the reserves have increased by 8.05% since the beginning of the year. The country started 2025 with 30.53 tonnes, which rose to 30.62 tonnes by January 31 and has continued to rise steadily month-on-month.
From just 8.78 tonnes in May 2023, the Central Bank’s gold reserves have grown significantly, contributing to the stability of the cedi.
The accumulation has been largely driven by the Domestic Gold Purchase Programme—a strategic policy aimed at strengthening foreign exchange reserves, boosting investor confidence, stabilising the currency, and creating a favourable environment for foreign direct investment and economic growth.
In an earlier communique, the Central Bank noted:
“The gold accumulation programme is an essential tool in our efforts to diversify reserve assets, reduce exposure to global financial volatility, and provide the economy with more robust buffers against external shocks.”
The programme also aims to leverage these assets to secure more affordable financing options, thereby improving short-term foreign exchange liquidity without overreliance on external debt markets.
Source: Joy Business
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