The Ghana Gold Board (GoldBod) says it expects to generate US$1.4 billion in foreign exchange in September 2026 under its new collaborative financing model for artisanal and small-scale mining gold operations.
According to GoldBod, US$700 million of the projected amount will be made available to commercial banks through spot sales and funded forward arrangements to support stability in the foreign exchange market.
Another US$700 million will be provided to the Bank of Ghana (BoG) for reserve accumulation under the Ghana Accelerated National Reserve Accumulation Policy (GANRAP).
The projection follows GoldBod’s generation of US$1.315 billion in foreign exchange in August, the first month of implementation of the new financing model, which began on August 3, 2026.
Of the August total, US$668.21 million was sold directly to commercial banks through spot sales and funded forward arrangements.
The remaining US$646.59 million was made available to the Bank of Ghana for reserve accumulation under GANRAP.
The new financing model was developed following consultations between GoldBod, the Ministry of Finance, the Bank of Ghana, commercial banks and other market stakeholders.
GoldBod said the arrangement is intended to strengthen its contribution to Ghana’s foreign exchange market while supporting the accumulation of the country’s international reserves.
The GoldBod said it remains committed to its statutory mandate of generating foreign exchange for Ghana and working transparently with stakeholders.