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.

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.

"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.

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

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.

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.