The Bank of Ghana has announced that the country’s gold reserves have reached an estimated GH₵46.4 billion as of the end of April 2025, driven by a sharp increase in global gold prices.
According to an official update released on 6 May, gold prices rose to GH₵46,086.32 per ounce, boosting the value of Ghana’s reserves.
The country’s total gold holdings now stand at 31.37 tonnes, equivalent to 1,008,837.07 ounces, based on the standard conversion rate of 32,150.7 ounces per metric tonne.
At current spot prices, the total value of the reserves is approximately GH₵46,439,963,249.28, underscoring gold’s growing importance as a strategic economic asset.
Over the past two years, the Bank of Ghana has significantly expanded its gold stockpile, increasing from 8.78 tonnes in May 2023 to over 31 tonnes by April 2025.
This dramatic growth is part of the central bank’s broader strategy to enhance economic resilience amid ongoing global financial volatility.
The increase in gold holdings is driven by the Bank’s “Gold for Reserves” programme, aimed at diversifying the country’s reserve portfolio, stabilising the Ghanaian cedi, and reducing reliance on the US dollar.
By accumulating gold, the central bank has also bolstered foreign exchange reserves, providing the country with greater fiscal autonomy and financial flexibility in the face of external shocks.
While the Bank of Ghana has not indicated any immediate changes to the pace of its gold purchases, current market conditions—including geopolitical uncertainty, inflationary pressures, and strong demand for safe-haven assets—suggest continued accumulation is likely.
As Africa’s leading gold producer, Ghana is well-positioned to leverage its natural resources to safeguard its economy.
With gold prices on the rise, the country is turning its mineral wealth into a powerful tool for economic stability and long-term growth.
