Ghana’s gold reserves quadruple to 32.99 tonnes in June – BoG

Ghana’s gold reserves reached 32.99 tonnes in June 2025, marking a near fourfold increase from the 8.78 tonnes recorded in May 2023, according to the Bank of Ghana.

The latest figure represents a continued month-on-month rise, with reserves climbing from 31.37 tonnes in April and 32.16 tonnes in May. The central bank attributes the surge to its strategic push to strengthen financial stability and diversify the country’s foreign reserves.

This aggressive gold accumulation is part of a broader initiative to reduce Ghana’s reliance on traditional currencies like the U.S. dollar. As Africa’s top gold producer, Ghana has intensified formalization efforts in its small-scale mining sector to retain more domestically mined gold for national development.

The Bank of Ghana’s strategy aligns with a global trend, as central banks around the world increasingly turn to gold to hedge against currency volatility and geopolitical risks. The move not only reinforces Ghana’s financial buffers but also positions the country to navigate future economic shocks with greater resilience.

Read the full statement here