Ghana’s gold reserves have continued their impressive rise, reaching 31.37 tonnes in April 2025, up from 31.01 tonnes in March and a significant leap from just 8.78 tonnes recorded in May 2023.
The increase reflects a deliberate strategy by the Bank of Ghana to expand the country’s gold holdings as a tool for economic resilience.
According to newly released data from the central bank, the consistent accumulation of gold is part of a broader effort to strengthen Ghana’s foreign reserves and reduce dependency on external currencies. The aim is to diversify the country’s asset portfolio and enhance financial stability amid global uncertainties.
Ghana, already a top gold producer in Africa, has intensified efforts to harness its mineral wealth, particularly by formalizing and regulating the small-scale mining sector. One of the major steps in this direction was the establishment of GoldBod — a regulatory body tasked with overseeing the sale of gold from small-scale miners to ensure transparency and channel more of the precious metal into national reserves.
Another pivotal move came through a landmark agreement between the Bank of Ghana and nine leading mining companies. Under the terms of this deal, the firms are required to supply 20 percent of their gold production to the domestic market. This agreement followed months of negotiations aimed at bringing key players who had previously stayed outside the Bank’s Domestic Gold Purchasing Programme into the fold.
These developments have significantly bolstered Ghana’s gold reserves, positioning the country to better cushion its economy against global shocks. The central bank expects the rising reserves to help stabilize the cedi, restore investor confidence, and attract more foreign capital into the country.
