The Bank of Ghana (BoG) has officially launched the Ghana gold coins in a bid to mop up extra liquidity in the banking sector.
This is the first time the central bank is issuing gold coins as an alternative investment asset available to the general public.
According to the governor of the Bank of Ghana, Dr Ernest Addison, the gold coins will be available on the market in the next two weeks.
Speaking at a media briefing on Friday (27 September) in Accra, Addison said individuals can purchase the gold coins in three different ounces in all commercial banks across the country.
”Now, if you don’t buy dollars, you will buy treasury bills or bonds. We are giving you an opportunity from the domestic gold purchasing programme to also buy gold. This is what we are trying to launch now, and we call it Ghana gold coin,” he said.
”The Ghana gold coin is manufactured from dore gold dug out of Ghana which has been refined to 99% purity. It is issued and guaranteed by the bank of Ghana.”
Addison added” It will be available in three different units. That is the one-ounce coin, the half-ounce coin and the quarter ounce coin to suit different investment needs. The Ghana gold coin enables the bank of Ghana to mop up extra liquidity in the banking sector.”
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