The Ghana Gold Board (GoldBod) is projecting US$1.4 billion in foreign exchange generation for September 2026, with half of the amount expected to support commercial banks and the remainder targeted at strengthening Ghana’s reserves.
The projection comes after GoldBod generated US$1.315 billion in foreign exchange in August under a new financing model introduced as part of the Ghana Accelerated National Reserve Accumulation Policy (GANRAP).
Of the August proceeds, US$668.21 million 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 GANRAP.
For September, GoldBod says US$700 million of the projected US$1.4 billion will be made available to commercial banks, while up to another US$700 million will go to the Bank of Ghana for reserve accumulation.
The new arrangement follows consultations between GoldBod, the Ministry of Finance, the Bank of Ghana, commercial banks and other market stakeholders after Cabinet and Parliament approved GANRAP.
Implementation of the collaborative financing model for GoldBod’s artisanal and small-scale mining gold operations began on August 3, 2026.
The latest figures highlight the growing role of Ghana’s gold sector in generating foreign exchange, supporting the domestic currency market and building the country’s international reserves.
GoldBod said it remains committed to its statutory mandate of generating foreign exchange for Ghana and will continue to work with key stakeholders in implementing the model.
