Ghana vows to reform gold purchase program in 2026

Accra [Ghana], December 27: Ghana's central bank has pledged to reform the country's domestic gold purchase program (DGPP) to boost its macroeconomic benefits.
In a release on Thursday, the Bank of Ghana said its board had approved the reforms to be rolled out from January 2026, in line with budgetary provisions made in the 2026 budget to fully resource the Ghana Gold Board (GoldBod), ensuring the sustainability of its operations.
"Recognizing both the macroeconomic benefits and fiscal costs of the DGPP, the board of the Bank of Ghana recently approved reforms to improve pricing and operational efficiency in the downstream segment of the program," the release said.
The reforms aim to reduce intermediation fees, improve cost-efficiency, and achieve competitive yet economically sound buying prices, with benefits for both the sector and the broader economy, according to the central bank.
The DGPP is a policy tool that has helped shore up Ghana's international reserves, supported currency stability, and enabled access to large volumes of foreign exchange without incurring new debt, said the bank.
"The operational role of GoldBod as an aggregator has been important in channeling gold-based inflows from the small-scale mining sector into the official market. This collaborative structure between the Bank and GoldBod has ensured that the DGPP remains anchored in public policy objectives," it added.
Source: Xinhua