BoG must sustain Domestic Gold Purchase Programme - Professor Turkson

A professor at the University of Ghana’s Economics Department, Professor Ebo Turkson, has called for the continuation of the central bank’s Domestic Gold Purchase Programme (DGPP), citing its importance to Ghana’s economic stability.

Speaking on The Key Points on TV3 Ghana on Saturday, April 25, 2026, he urged policymakers to capitalise on favourable global gold prices to strengthen the country’s financial position.

“I want the Bank of Ghana to continue with the gold purchase programme. If gold is performing strongly, Ghana must take advantage of it,” he said.

However, he cautioned against overexposure to the commodity, warning of potential risks if prices decline.

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“We should be careful not to concentrate too much of our assets in gold so that when prices fall, we do not suffer,” he added.

Launched in June 2021, the DGPP has become a central pillar of Ghana’s economic strategy.

The programme enables the central bank to purchase gold locally, with large-scale mining firms required to supply a portion of their refined output, while small-scale gold is aggregated through the Precious Minerals Marketing Company which has now become the Ghana Gold Board.

The initiative is aimed at boosting foreign exchange reserves, reducing reliance on the US dollar, and supporting the Ghanaian cedi.

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