The Ghana Gold Board (GoldBod) has announced plans to generate US$1.4 billion in foreign exchange in September 2026, following the successful rollout of a new collaborative financing model for artisanal and small-scale mining gold purchases.
The initiative forms part of the implementation of the Ghana Accelerated National Reserve Accumulation Policy (GANRAP), which was approved by Cabinet and Parliament to strengthen the country’s foreign exchange reserves and support macroeconomic stability.
According to a statement issued by GoldBod’s Finance and Trading Directorate on August 31, 2026, the institution concluded consultations with the Ministry of Finance, the Bank of Ghana, commercial banks and other stakeholders before commencing implementation of the new framework on August 3, 2026.
The announcement comes after what GoldBod described as a strong first month of operation under the new arrangement.
In August 2026, GoldBod generated US$1.315 billion in foreign exchange, with US$668.21 million sold directly to commercial banks through spot sales and funded forward arrangements to help stabilise the foreign exchange market.
An additional US$646.59 million was made available to the Bank of Ghana for reserve accumulation under the GANRAP programme.
Building on that performance, GoldBod expects September’s foreign exchange generation to rise to US$1.4 billion.
Under the September allocation plan, US$700 million will be made available to commercial banks to support foreign exchange market stability, while up to US$700 million will be transferred to the Bank of Ghana to bolster the country’s reserve position.
The development underscores the growing role of Ghana’s gold sector in supporting external sector stability and enhancing foreign currency inflows at a time when policymakers continue efforts to strengthen reserves and maintain confidence in the local currency.
GoldBod reiterated its commitment to its statutory mandate of generating foreign exchange for the country and pledged to continue engaging stakeholders transparently as implementation of the policy advances.
Source: businesspostonline
