The Ghana Gold Board (GoldBod) is projecting $1.4 billion in foreign exchange inflows in September, with $700 million expected to be channelled to commercial banks to support stability in the foreign exchange market.
The projection follows Cabinet and Parliamentary approval of the Ghana Accelerated National Reserve Accumulation Policy (GANRAP).
GoldBod said it had concluded consultations with the Ministry of Finance, the Bank of Ghana and commercial banks on a new collaborative financing model for small-scale gold operations, which took effect on August 3, 2026. Under the arrangement, GoldBod generated $1.315 billion in foreign exchange in August.
Of the amount, $668.21 million was sold directly to commercial banks through spot sales and funded forwards to support stability in the foreign exchange market, while $646.59 million was channelled to the Bank of Ghana for international reserve accumulation.
For September, GoldBod said $700 million of the projected $1.4 billion would be channelled to commercial banks to support foreign exchange market stability.
The remaining $700 million is expected to be transferred to the Bank of Ghana to support the accumulation of the country’s international reserves.
GoldBod said the financing model formed part of broader efforts to strengthen Ghana’s foreign exchange position and build international reserves.
The Board reaffirmed its commitment to its mandate of generating foreign exchange for the country and working transparently with relevant stakeholders.
