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The Bank of Ghana (BoG) has officially launched the Ghana Gold Coin, providing a new investment option for Ghanaians under its gold purchase programme. The coins, which will be available for purchase in two weeks, aim to offer a stable alternative for investors.
Speaking at the Monetary Policy Committee (MPC) press conference on Friday, September 27, 2024, Governor of the BoG, Dr. Ernest Addison, highlighted that the gold coins come in three different sizes: half-ounce and quarter-ounce, tailored to meet varying investment needs.
The introduction of these coins is expected to ease the pressure on the Ghanaian cedi by providing an alternative to holding foreign currencies such as the dollar. Dr. Addison emphasized that individuals who previously relied on dollars as a store of value now have the option to invest in gold instead.
“If you don’t buy dollars, you will buy treasury bills or bonds. We are giving you an opportunity through the domestic gold purchasing program to also buy gold. This is what we are trying to launch now, and we call it the Ghana Gold Coin,” he explained.
The coins, produced from dory gold extracted from Ghana, have been refined to 99% purity, making them a high-quality investment product.
The Ghana Gold Coin is expected to be available for purchase at all commercial banks across the country in the coming weeks.
