The Bank of Ghana’s gold reserves reached a valuation of approximately GH₵46.3 billion at the end of April 2025 per, according to the report by the central bank of Ghana.
The official data published by the apex bank stated that the price of gold had risen to GH₵46,086.32 per ounce and Ghana’s total gold holdings stood at 31.37 tonnes as of April 30, 2025.
It noted that this translates to 1,008,837.07 ounces of gold, using the standard conversion of 32,150.7 ounces per metric tonne.
“Multiplying the total ounces by the official spot price gives a calculated value of GH₵46,439,963,249.28, marking a rapid rise in the country’s reserves and underlining gold’s importance as a strategic financial asset for the Ghanaian economy,” the report the Daily Graphic quoted the figures from the apex bank as saying.
According to the report, the central bank has gradually increased its reserves over the past two years, starting from 8.78 tonnes in May 2023 to over 31 tonnes by April 2025.
“This aggressive accumulation aligns with Ghana’s broader strategy to bolster economic resilience amid global financial uncertainty,” it noted.
The Bank of Ghana stated that the rise in gold holdings forms part of its “Gold for Reserves” programme, aimed at diversifying the central bank’s asset portfolio and supporting the cedi.
It added that the initiative has also contributed to strengthening foreign exchange reserves, reducing reliance on the US dollar, and enhancing the country’s fiscal autonomy.
GIK/APA