The Ghana Gold Board (GoldBod) says it expects to generate US$1.4 billion in foreign exchange in September 2026, as it continues implementation of a new collaborative financing model for artisanal and small-scale mining gold operations.
According to an announcement issued by GoldBod’s Finance and Trading Directorate on Monday, August 31, US$700 million of the expected forex generation will be made available to commercial banks to support stability in the foreign exchange market.
The remaining up to US$700 million will be provided to the Bank of Ghana (BoG) for reserve accumulation under the Ghana Accelerated National Reserve Accumulation Policy (GANRAP).
GoldBod said the new financing model followed the approval of GANRAP by Cabinet and Parliament and consultations with the Ministry of Finance, the Bank of Ghana, commercial banks and other market stakeholders.
Implementation of the model commenced on August 3, 2026.
GoldBod disclosed thatnn in August, it generated US$1.315 billion in foreign exchange under the new model.
Out of this amount, US$668.21 million was sold directly to commercial banks through spot sales and funded forward arrangements to support foreign exchange market stability.
A further US$646.59 million was made available to the Bank of Ghana for reserve accumulation under GANRAP.
The projected September figure therefore represents an increase of about US$85 million over the forex generated in August.
GoldBod said it remained committed to its statutory mandate of generating foreign exchange for Ghana and would continue to work transparently with all relevant stakeholders.
The latest projection comes amid efforts by the government and monetary authorities to strengthen Ghana’s foreign exchange market and build the country’s international reserves through increased mobilisation of foreign currency from the gold sector.
Story By: Eric Boateng
