The Bank of Ghana’s gold reserves reached a valuation of approximately GH₵46.3 billion at the end of April 2025 per the central bank’s announcement on May 6 that the price of gold had risen to GH₵46,086.32 per ounce.
According to official data published by the Bank of Ghana, the nation’s total gold holdings stood at 31.37 tonnes as of April 30, 2025. 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 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.
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. The initiative has also contributed to strengthening foreign exchange reserves, reducing reliance on the US dollar, and enhancing the country’s fiscal autonomy.
While the bank has not commented on any immediate plans to alter its gold acquisition pace, the sustained price surge and growing global interest in precious metals suggest Ghana could continue leveraging gold to stabilise its economy.
The announcement comes as gold prices rally globally due to geopolitical tensions, US tariffs, inflation concerns, and increased demand for safe-haven assets. Ghana, Africa’s top gold producer, is strategically positioned to benefit from the bullish trend.
Source: Graphic Business
