The Ghana Gold Board (GoldBod) says it generated US$1.871 billion in foreign exchange from its artisanal and small-scale mining (ASM) gold trade operations in September 2026, exceeding its monthly target of US$1.4 billion.

According to a press release issued on Wednesday, September 30, GoldBod said the proceeds were generated in line with its statutory mandate under Section 2(b) of Act 1140, which requires the institution to support Ghana's foreign exchange needs.

Of the total amount generated, US$701.3 million was sold to authorised commercial banks, marginally surpassing the monthly target of US$700 million, to support stability in the foreign exchange market.

A further US$1.170 billion was provided to the Bank of Ghana (BoG), significantly exceeding the central bank's US$700 million target, to support the accumulation of the country's foreign exchange reserves.

GoldBod said the September figures demonstrated its continued contribution to Ghana's foreign exchange market and reserve-building efforts.

US$1.5bn projected for October

For October 2026, GoldBod projects that it will generate US$1.5 billion in foreign exchange from its operations.

Under the October plan, US$1 billion of the expected proceeds will be made available to authorised commercial banks to support foreign exchange market stability.

Up to US$500 million will be provided to the Bank of Ghana to support reserve accumulation in line with the Ghana Accelerated National Reserves Accumulation Programme (GANRAP).

GoldBod said the October allocations would be undertaken under its newly developed Spot FX Sales/Intermediation Framework, which is intended to strengthen transparency, fairness and regulatory compliance in the sale and intermediation of foreign exchange.

The GoldBod said it remained committed to fulfilling its statutory responsibility to generate foreign exchange for Ghana and would continue working with the Bank of Ghana, commercial banks and other stakeholders.