Bank of Ghana launches gold coins as new investment option for Ghanaians

As part of efforts to provide alternative investment options for Ghanaians, the Bank of Ghana has launched the ‘Ghana Gold Coin’.

The move by the central bank is part of its Responsible Gold Sourcing Policy Framework, with the coins set to be available on the market in the next two weeks.

Speaking with journalists at the 120th Monetary Policy Committee (MPC) press briefing on September 27, 2024, Bank of Ghana Governor, Dr. Ernest Addison said gold coins can be purchased in three different sizes at all commercial banks across the country.

He explained that the sizes consist of a half-ounce coin and a quarter-ounce coin to better suit different investment needs.

"If you don’t buy dollars, you will buy treasury bills or bonds. We are giving you an opportunity through the domestic gold purchasing program to also buy gold, and this is what we are trying to launch now, called the Ghana Gold Coin," he said.

Dr. Addison said the 'Ghana Gold Coin', manufactured from dory gold dug out, has been refined to 99.99% purity, issued and guaranteed by the central bank.

The BoG Governor mentioned that the introduction of the gold coins is expected to help ease pressure on the local currency while serving as an investment option for individuals who often purchase dollars and hoard them.



MA

Watch the latest edition of BizTech below:

Ghana’s leading digital news platform, GhanaWeb, in conjunction with the Korle-Bu Teaching Hospital, is embarking on an aggressive campaign which is geared towards ensuring that parliament passes comprehensive legislation to guide organ harvesting, organ donation, and organ transplantation in the country.

Click here to follow the GhanaWeb Business WhatsApp channel