Nat’l Tymes News Desk
THE GHANA Gold Board (GoldBod) is expected to inject about US$1.4 billion into the economy in September 2026 after generating US$1.315 billion in foreign exchange in August under a new financing model for its artisanal and small-scale gold operations.
The development is expected to support stability in the foreign exchange market and contribute to the accumulation of Ghana’s foreign reserves.
In a press statement dated August 31, 2026, GoldBod said the new model followed the approval of the Ghana Accelerated National Reserve Accumulation Policy (GANRAP) by Cabinet and Parliament.
The Board said it had subsequently completed consultations with the Ministry of Finance, the Bank of Ghana, commercial banks and other stakeholders on the implementation of the new collaborative financing model. Implementation of the model began on August 3, 2026.
According to GoldBod’s Finance and Trading Directorate, the Board generated US$1.315 billion in foreign exchange during August under the new model.
Out of the amount, 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.
Another US$646.59 million was made available to the Bank of Ghana for reserve accumulation under GANRAP.
For September, GoldBod projects that it will generate US$1.4 billion in foreign exchange.
The Board said US$700 million of the projected amount would be made available to commercial banks to support foreign exchange market stability, while up to US$700 million would be provided to the Bank of Ghana for reserve accumulation.
If the projections are achieved, GoldBod would have generated about US$2.715 billion in foreign exchange over the two months.
GoldBod said the development formed part of its statutory mandate to generate foreign exchange for the country and strengthen Ghana’s reserve position.
“This is what Green Means Go means. GoldBod remains committed to its statutory mandate to generate foreign exchange for Ghana and will continue to work transparently with all stakeholders,” the statement said.
The announcement comes amid recent public debate over GoldBod’s gold operations, including claims by the Minority in Parliament concerning an alleged US$1.7 billion loss, as well as concerns surrounding the Bank of Ghana’s gold programme.
GoldBod said the new GANRAP model would allow it to support the foreign exchange market while contributing to the accumulation of the country’s reserves through gold.
Source: Nationaltymes.com
