The Bank of Ghana has introduced the Ghana Gold Coin to expand investment opportunities for Ghanaians and reduce their reliance on U.S. dollars.
During a press conference in Accra on Friday, September 27, Governor Dr Ernest Addison unveiled the coin, explaining that it allows the bank to absorb excess liquidity in the banking sector.
“The coin will be available in three sizes—one ounce, half-ounce, and quarter-ounce—and can be purchase at commercial banks across the country.”
“If you’re not buying dollars, you can invest in Treasury bills, bonds, or now, gold through the domestic gold purchasing program. This is the opportunity we are launching with the Ghana Gold Coin. Besides serving as an alternative investment, the Ghana Gold Coin will help the central bank manage liquidity by supplementing the use of BoG bills and overnight inflows.”
Additionally, Dr Addison emphasised that the coin features the Ghana Coat of Arms on one side and the Independence Arch on the other, symbolising national pride and financial growth and the first time the central bank has issued gold coins as an investment alternative for the public.
This initiative seeks to deepen the financial markets by providing savers with more investment options.
