The Ghana Gold Board (GoldBod) generated US$1.315 billion in foreign exchange in August 2026 under a new collaborative financing model introduced to support its artisanal and small-scale mining gold operations.
The new financing model was implemented on August 3, 2026, following the approval of the Ghana Accelerated National Reserve Accumulation Policy (GANRAP) by Cabinet and Parliament.
According to GoldBod, the model was developed following consultations with the Ministry of Finance, the Bank of Ghana (BoG), commercial banks and other market stakeholders.
Out of the US$1.315 billion generated in August, US$668.21 million was sold directly to commercial banks through spot sales and funded forward arrangements.
GoldBod said the sales were aimed at supporting stability in the foreign exchange market.
A further US$646.59 million was made available to the Bank of Ghana for reserve accumulation under GANRAP.
For September 2026, GoldBod expects to generate US$1.4 billion in foreign exchange under the new financing model.
Of the projected amount, US$700 million will be made available to commercial banks to support foreign exchange market stability, while up to US$700 million will be provided to the Bank of Ghana for reserve accumulation.
GoldBod said the financing model forms part of its efforts to fulfil its statutory mandate to generate foreign exchange for Ghana.
The Board also reaffirmed its commitment to working transparently with the Ministry of Finance, the Bank of Ghana, commercial banks and other stakeholders in implementing the initiative.