Read Views: 225

The Bank of Ghana introduced gold coins to absorb surplus liquidity, offering a secure investment option for individuals and institutions through the Domestic Gold Purchasing Programme

The Bank of Ghana (BoG) has officially introduced Ghana gold coins as part of efforts to absorb surplus liquidity within the banking sector. This marks the first time the central bank has issued gold coins as an alternative investment for the public, providing a fresh option for diversifying portfolios beyond traditional financial products.

Dr. Ernest Addison, Governor of the BoG, announced at a media briefing in Accra on Friday, September 27, that the gold coins will be available to the public in two weeks. He explained that individuals can purchase the coins in various sizes from all commercial banks nationwide, offering a unique opportunity to invest in gold sourced from Ghana’s domestic mines.

“We are offering a chance to buy gold, not just treasury bills or bonds. This is what we call the Ghana gold coin,” he stated.

The gold coins will be available in three denominations – one-ounce, half-ounce, and quarter-ounce, to cater to different investor needs. Dr. Addison emphasized that the coins are produced from locally extracted dore gold, refined to 99% purity, and guaranteed by the Bank of Ghana, making them a secure and tangible asset for investors.

According to Dr. Addison, this initiative is part of the central bank’s Domestic Gold Purchasing Programme. The introduction of the gold coins aims to offer an alternative investment tool while helping manage excess liquidity in the banking sector, contributing to financial stability.

As the coins become available for purchase in the coming weeks, they are expected to attract interest from both individual and institutional investors, marking a significant step in diversifying Ghana’s investment landscape.

READ ALSO: