The Bank of Ghana (BoG) has introduced the Ghana gold coin as a new investment avenue for Ghanaians under its gold purchase programme.
This initiative, aimed at providing alternative investment opportunities, was announced by Dr. Ernest Addison, Governor of the Bank of Ghana, during the Monetary Policy Committee (MPC) press conference on September 27, 2024.
Dr. Addison explained that the Ghana gold coin would offer a viable alternative to those who typically invest in foreign currencies.
“If you don’t buy dollars, you will buy treasury bills or bonds. We are giving you an opportunity from the domestic gold purchasing program to also buy gold.
This is what we are trying to launch now, and we call it Ghana gold coin,” he stated.
The coins, which will be available in three different sizes—the half-ounce and quarter-ounce coins—are designed to meet varying investment needs.
Dr. Addison assured that “potential investors can purchase the gold coins in three different ounces in all commercial banks across the country.”
The coins will be available for purchase within the next two weeks.
The governor also emphasized the economic benefits of this initiative, noting that it would help ease pressure on the local currency.
He said, “The introduction of the gold coins would help ease pressure on the local currency as individuals who buy dollars and hoard them as a form of investment can now buy the gold coins instead.”
The Ghana gold coin is made from locally sourced dory gold that has been refined to 99% purity, further underscoring the Bank’s commitment to utilizing domestic resources in stabilizing the economy.
