Ghana’s central bank has increased its gold reserves to 38.04 tonnes as of the end of October 2025, primarily driven by the Ghana Gold Board (GoldBod) and its domestic gold procurement initiative.
Data released by the Bank of Ghana on November 5, 2025, shows this represents a more than 35% rise from the 28.1 tonnes held in October 2024, underscoring the steady expansion of the country’s official gold stockpiles.
The reserves stood at 30.53 tonnes in December 2024, with approximately 7.51 tonnes added from January to October 2025. In September 2025, holdings reached 37.06 tonnes—a 21.3% increase from the 30.53 tonnes recorded in January.
According to Governor Johnson Asiama, the central bank has successfully rebuilt foreign reserves to cover four and a half months of imports, following near-depletion during the 2022 economic crisis. He attributed this recovery to the new state-run gold trading entity, which is stemming foreign-exchange outflows.
GoldBod Discuss Strategies For Responsible Gold Sourcing In Ghana
Established in March 2025, GoldBod has generated around $8 billion by centralizing gold purchases and exports, ensuring that foreign currency earnings flow back into Ghana, Asiama noted during an event at the International Monetary Fund and World Bank annual meetings in Washington.