Soon to be established Goldbod to takeover our gold purchases’ role- BoG Governor

The Governor of the Bank of Ghana, Dr Johnson Asiama, has revealed that the central bank may relinquish its role in gold purchases, allowing a soon-to-be-established Gold Board to take over.

According to the new BoG Governor, the move is expected to streamline the management of bullion procurement and enhance efficiency in the sector.

Speaking in an interview with Bloomberg, Dr Asiama explained that the central bank’s withdrawal from direct gold purchases would enable a more specialised institution to oversee the process.

“The central bank may remove itself from the programme to purchase bullion and hand the role to a soon-to-be-established Gold Board,” he stated.

The establishment of the Gold Board is anticipated to create a structured framework for managing the country’s gold resources.

It is expected to improve transparency, regulate transactions, and optimise gold purchases for national reserves. The move aligns with broader efforts to strengthen Ghana’s gold industry and maximise its economic benefits.

Industry analysts believe that transitioning the responsibility to a dedicated board could enhance operational efficiency and reduce the central bank’s direct involvement in commodity markets.

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