Ghana Shifts Gold Reserves to Foreign Currency Amid Record Highs. Accra, Ghana — 2026-01-29 Lead Paragraph: Ghana, a leading producer of gold in Africa, has been quietly reallocating its gold reserves in favor of foreign currency investments, despite the recent surge in gold prices. This strategic move, which has reduced the country’s gold reserves by 51%, reflects a broader effort to diversify its financial assets and generate additional income through international investments.
Ghana’s decision to shift its reserves away from gold comes as the metal has reached record highs, traditionally making it a more attractive asset.
However, the Bank of Ghana has emphasized the need for reserve diversification to protect the nation’s economic stability and to leverage the benefits of foreign currency investments. Historically, gold reserves accounted for 40% of Ghana’s total reserves, exceeding the usual range of 20%-25%.
This reallocation aims to bring the country’s reserves more in line with global standards and to create new income streams.
To further streamline the mining sector and increase revenue, Ghana has also banned foreigners from trading in its gold market. This measure, announced by the Ghana Gold Board, is part of a new law granting exclusive gold mining authority to the state body.
The ban is intended to combat illegal mining practices and to ensure that all gold transactions are conducted within the legal framework. While the shift to foreign currency investments and the ban on foreign trading in the gold market are seen as strategic moves by the Ghanaian government, critics argue that these measures could negatively impact the informal mining sector, which employs a significant number of Ghanaians and contributes to the country’s economy. Environmental and health concerns are also raised regarding the impact of gold mining, particularly illegal artisanal mining, which has been on the rise due to high commodity prices.
The government’s decision to reallocate its gold reserves and ban foreign trading in the gold market remains a topic of debate among economic experts and environmental activists. Further details on the new investments and the potential impact of these measures are expected in the coming weeks.
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Source: Africa.
*Additional reporting by ImNews | Sources consulted: 5*
