The Ghana Gold Board (GoldBod) generated US$1.315 billion in foreign exchange in August 2026 under a new collaborative financing model introduced to support its artisanal and small-scale mining gold operations.
According to GoldBod, US$668.21 million of the Foreign Exchange proceeds generated in August was sold directly to commercial banks through spot sales and funded forward arrangements to support stability in the foreign exchange market.
A further US$646.59 million was made available to the Bank of Ghana for reserve accumulation under the Ghana Accelerated National Reserve Accumulation Policy (GANRAP).
GoldBod said the new financing model followed the approval of GANRAP by Cabinet and Parliament and consultations with the Ministry of Finance, Bank of Ghana, commercial banks and other market stakeholders.
GoldBod said implementation of the model commenced on August 3, 2026.
For September 2026, GoldBod expects to generate US$1.4 billion in foreign exchange.
Of the projected amount, US$700 million will be made available to commercial banks to support foreign exchange market stability, while up to another US$700 million will be provided to the Bank of Ghana for reserve accumulation.
GoldBod said the initiative forms part of its statutory mandate to generate foreign exchange for Ghana.
GoldBod noted it remains committed to its statutory mandate to generate foreign exchange for Ghana and will continue to work transparently with all stakeholders.
