The Ghana Gold Board (GoldBod) is expected to generate US$1.4 billion in foreign exchange in September 2026 as it implements a new financing model for its artisanal and small-scale mining gold operations.
The development follows the approval of the Ghana Accelerated National Reserve Accumulation Policy (GANRAP) by Cabinet and Parliament and consultations between GoldBod, the Ministry of Finance, the Bank of Ghana, commercial banks and other market stakeholders.
Implementation of the new collaborative financing model began on August 3, 2026.
According to GoldBod’s Finance and Trading Directorate, the institution generated US$1.315 billion in foreign exchange in August under the new model.
Of the August proceeds, US$668.21 million was sold directly to commercial banks through spot sales and funded forward arrangements to support stability in the foreign exchange market.
A further US$646.59 million was made available to the Bank of Ghana for reserve accumulation under GANRAP.
For September, GoldBod said US$700 million of the projected US$1.4 billion in foreign exchange generation would be made available to commercial banks to support foreign exchange market stability.
Up to another US$700 million will be provided to the Bank of Ghana to support the accumulation of the country’s foreign exchange reserves.
GoldBod said the new model forms part of its broader efforts to fulfil its statutory mandate of generating foreign exchange for Ghana while supporting financial and economic stability.
The institution also reaffirmed its commitment to transparency and continued collaboration with the government, the central bank, commercial banks and other stakeholders in the implementation of the programme.
The latest figures were contained in an announcement issued by GoldBod’s Finance and Trading Directorate on August 31, 2026.
Source: www.kumasimail.com
