Gold Sold between 2023 and 2024 Purchase Saved BoG GHS 33Billion loss
According to JoyResearch, it has revealed that by the close of 2025, the Bank of Ghana (BoG) could have accumulated a loss of GHS 33.2 billion which could have been double the GHS 15.63 billion as reported to have been accumulated by the gold purchase made between 2023 and 2024 recorded by the central bank’s Domestic Gold Purchase Programme (DGPP).
The report says the Bank’s audit financial statement reveals that gold purchases absorb the BoG’s close to GHS 17.56 billion through two distinct channels.
In the year 2025, the Bank of Ghana (BoG) sold 8700 ounces of gold equivalent to about 27 tonnes of bullion. Close to GHS 40billion was accumulated from the foreign exchange rate after buyers roughly bought each bullion for US$ 3.6 billion.
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The gold accumulated in the BOG book was a bit and was sold after the price had sharply increased.
The price between the price as it was GHS 9.57 billion which was recorded by the banks as profit gained.
In the years 2023 and 2024, the gold filling increased steadily which made the gold sell for a billion cedis at the bank. Additionally, GHS 7.99 billion was gained as income in the bank’s statement.
The GHS 9.57 billion plus the additional cost of GHS 7.99 billion amount to GHS 17. 56 billion which can significantly affect the 2025 loss to GHS 33.19 billion.
Source: Adomonline
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