Ghana’s Gold reserves climb to 31.37 tonnes in April 2025

Ghana's gold reserves are steadily increasing. By April 2025, they reached 31.37 tonnes. This is a significant rise from 8.78 tonnes in May 2023. The increase is nearly fourfold in less than two years.

The Bank of Ghana aims to boost foreign reserves and financial stability. They are focusing on accumulating more gold as part of this strategy. This effort also diversifies asset holdings and reduces reliance on foreign currencies.

As Africa’s top gold producer, Ghana is formalizing its small-scale mining sector. The goal is to channel more gold output into national development. President John Dramani Mahama established GoldBod to regulate small-scale miners' gold sales.

GoldBod has been crucial in increasing local gold reserves since its creation. It negotiated an agreement with nine large mining firms to sell 20% of their output domestically. This deal followed extensive discussions with companies not previously involved in the Bank of Ghana’s program.

The participating companies include:
- Golden Team Mining Company Limited
- Akroma Gold Limited
- Adamus Resources Limited
- Cardinal Namdini Mining Limited
- Goldstone Akrokeri Limited
- Earl International Group (GH) Limited
- Xtra Gold Mining Limited
- Prestea Sankofa Gold Limited
- Gan He Mining Resource Development Limited

This agreement strengthens Ghana’s domestic gold reserves and protects the economy from external shocks.