The Ghana Gold Board (GoldBod) says it will generate US$1.4 billion in foreign exchange in September 2026 as part of efforts to support foreign exchange market stability and build the country’s reserves.

According to GoldBod, US$700 million of the projected amount will be made available to commercial banks through spot sales and funded forward arrangements, while up to US$700 million will be provided to the Bank of Ghana for reserve accumulation under the Ghana Accelerated National Reserve Accumulation Policy (GANRAP).

In a release on Monday, August 31, GoldBod disclosed that it generated US$1.315 billion in foreign exchange in August following the implementation of a new collaborative financing model for its artisanal and small-scale mining gold operations.

Of that amount, US$668.21 million was sold directly to commercial banks, while US$646.59 million was made available to the Bank of Ghana for reserve accumulation.

The new financing model followed consultations between GoldBod, the Ministry of Finance, the Bank of Ghana, commercial banks and other stakeholders after Cabinet and Parliament approved GANRAP. Implementation of the model commenced on August 3, 2026.

GoldBod says it remains committed to its statutory mandate of generating foreign exchange for Ghana and will continue to work with relevant stakeholders to support stability in the foreign exchange market and strengthen the country’s reserve position.