GoldBod’s August 2026 FX generation hits US$1.315bn

The Ghana Gold Board (GoldBod) generated US$1.315 billion in foreign exchange in August 2026 under a new collaborative financing model for its artisanal and small-scale mining gold operations.

Of the amount, US$668.21 million was sold directly to commercial banks through spot sales and funded forward arrangements to support stability in the foreign exchange market.

A further US$646.59 million was made available to the Bank of Ghana (BoG) for reserve accumulation under the Ghana Accelerated National Reserve Accumulation Policy (GANRAP).

“In August 2026, GoldBod generated US$1.315 billion in foreign exchange under the new model," GoldBod announced the figures in an FX generation and sales update issued on Monday, August 31.

The new financing model followed consultations between GoldBod, the Ministry of Finance, the BoG, commercial banks and other market stakeholders.

Implementation of the model commenced on August 3, following the approval of GANRAP by Cabinet and Parliament.

GoldBod said the model is intended to support its statutory mandate of generating foreign exchange for Ghana while strengthening the country’s reserve position and supporting stability in the forex market.

For September, GoldBod expects to generate US$1.4 billion in foreign exchange.

Of this projected 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 BoG for reserve accumulation.

“In September 2026, GoldBod will generate US$1.4 billion in foreign exchange," the statement noted.

GoldBod said it would continue to work with the Ministry of Finance, the central bank, commercial banks and other stakeholders in implementing the financing model.