The Bank of Ghana (BoG) is considering stepping back from its direct involvement in gold procurement, paving the way for a newly established Gold Board to take charge of bullion purchases.

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Governor of the Bank of Ghana, Dr. Johnson Asiama, disclosed in an interview with Bloomberg that this transition is aimed at enhancing efficiency in the sector and ensuring a more structured approach to managing Ghana’s gold resources.

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"The central bank may remove itself from the programme to purchase bullion and hand the role to a soon-to-be-established Gold Board," he stated.

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The establishment of the Gold Board is expected to improve transparency in the gold trade, regulate transactions, and optimise purchases for national reserves.

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Industry experts believe that shifting the responsibility to a specialised entity will streamline operations, strengthen oversight, and allow the central bank to focus on its core monetary functions.

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The move aligns with broader efforts to fortify Ghana’s gold industry, maximise economic gains, and enhance the country’s position in global bullion markets.

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