The Ghana Gold Board (GoldBod) has generated US$1.315 billion in foreign exchange (FX) in August 2026 under a new collaborative financing model for its artisanal and small-scale mining gold operations.
According to GoldBod, the model follows the approval of the Ghana Accelerated National Reserve Accumulation Policy (GANRAP) by Cabinet and Parliament.
GoldBod said it concluded consultations with the Ministry of Finance, the Bank of Ghana, commercial banks and other market stakeholders before implementing the new model on August 3, 2026.
Of the US$1.315 billion generated in August, 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.
GoldBod is targeting US$1.4 billion in foreign exchange generation in September 2026 under the new financing model.
Of this amount, US$700 million will be made available to commercial banks to support foreign exchange market stability, while up to US$700 million will be provided to the Bank of Ghana for reserve accumulation under GANRAP.
The September target is US$85 million, or approximately 6.5 percent, higher than the amount generated in August.
GoldBod said it remains committed to its statutory mandate of generating foreign exchange for Ghana and will continue to work transparently with the Ministry of Finance, the Bank of Ghana, commercial banks and other market stakeholders.
The announcement, issued by GoldBod’s Finance and Trading Directorate on August 31, 2026, provides an update on the Board’s FX generation and sales under the new financing model.
GoldBod said the model forms part of efforts to support foreign exchange market stability and the accumulation of Ghana’s reserves under GANRAP.
By 1960news.com
