The Ghana Gold Coin (GGC) has been officially introduced by the Bank of Ghana (BoG) as a new financial instrument in order to provide the public with a wider range of investment options.
The coins come in three different sizes, as of November 26, 2024: 1.00 oz, 0.50 oz, and 0.25 oz. The costs are GH₵45,020.48, GH₵22,409.74, and GH₵11,188.12.
The pricing is determined using the London Bullion Market Association (LBMA) PM gold price from the previous day, which was $2,635.40, and the Bloomberg USD to GHS exchange rate of 15.7500.
The BoG’s goal is to provide the public with a fresh investment option that also strengthens the nation’s range of financial tools.
This initiative aims to absorb excess liquidity in the market and strengthen the local currency against major trading currencies as part of the domestic gold programme.
This strategic decision is in line with the Bank of Ghana’s goals of stabilizing the economy and encouraging investment in the country’s gold reserves.
