The Ghana Gold Board (GoldBod) has announced that it generated US$1.871 billion in foreign exchange from its artisanal and small-scale gold (ASM) trading operations in September 2026. This impressive figure exceeds the monthly target of US$1.4 billion set by the Board. According to GoldBod, the generated amount is a significant milestone in the country's efforts to boost its foreign exchange earnings. The achievement is attributed to the Board's strategic initiatives to enhance transparency, fairness, and regulatory compliance in the gold trading sector.
A breakdown of the generated amount shows that US$701.3 million was sold to authorised commercial banks, slightly surpassing the US$700 million target set to support stability in the foreign exchange market. The remaining amount of US$1.170 billion was provided to the Bank of Ghana, significantly exceeding the US$700 million target for reserve accumulation. This development is expected to support the country's financial stability and accelerate national reserves accumulation.
GoldBod Chief Executive Officer, Sammy Gyamfi, expressed satisfaction with the achievement, reaffirming the Board's commitment to its statutory mandate of generating foreign exchange for Ghana and working with stakeholders to support the country's financial stability. The Board's performance is seen as a positive indicator of the country's economic prospects, with the gold sector playing a crucial role in driving growth.
Looking ahead, GoldBod is projecting to generate US$1.5 billion in foreign exchange for October 2026. Of this amount, US$1 billion is expected to be made available to commercial banks to support FX market stability, while up to US$500 million will be provided to the Bank of Ghana to support reserve accumulation under the Ghana Accelerated National Reserves Accumulation Programme (GANRAP). The Board aims to maintain its momentum and continue contributing to the country's economic development.
To ensure a smooth and transparent sales process, GoldBod will conduct the October sales under its newly developed Spot FX Sales/Intermediation Framework. This framework is designed to strengthen transparency, fairness, and regulatory compliance in the gold trading sector. The Board's efforts to enhance transparency and accountability are expected to boost investor confidence and attract more foreign investment into the sector.
The Ghana Gold Board's achievement has been welcomed by stakeholders, who see it as a positive development for the country's economy. The Board's performance is also seen as a testament to the effectiveness of its strategies and initiatives aimed at boosting foreign exchange earnings. As the country continues to navigate economic challenges, the gold sector is expected to play a critical role in driving growth and stability.
GoldBod's success in generating record foreign exchange earnings is also seen as a reflection of the country's rich gold resources and the potential for the sector to contribute to economic development. With the Board's continued efforts to enhance transparency, fairness, and regulatory compliance, the sector is expected to remain a key driver of growth and stability for the Ghanaian economy.
Key points
- GoldBod generated US$1.871 billion in foreign exchange from artisanal and small-scale gold trading operations in September 2026.
- The generated amount exceeded the monthly target of US$1.4 billion set by the Board.
- GoldBod projects to generate US$1.5 billion in foreign exchange for October 2026.
