Changes approved for 2026 aim to boost macroeconomic efficiency and gains.
On Thursday, the Bank of Ghana pledged to reform the country’s Domestic Gold Purchase Program (DGPP) to boost its macroeconomic benefits.
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The board of the Bank of Ghana approved the reforms to be rolled out from January 2026, in line with budgetary provisions made in the 2026 budget to fully resource the Ghana Gold Board (GoldBod), ensuring the sustainability of its operations.
“Recognizing both the macroeconomic benefits and fiscal costs of the DGPP, the board recently approved reforms to improve pricing and operational efficiency in the downstream segment of the program,” the Bank of Ghana stated.
The reforms aim to reduce intermediation fees, improve cost-efficiency, and achieve competitive yet economically sound buying prices, with benefits for both the sector and the broader economy.
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The DGPP is a policy tool that has helped shore up Ghana’s international reserves, supported currency stability, and enabled access to large volumes of foreign exchange without incurring new debt.
“The operational role of GoldBod as an aggregator has been important in channeling gold-based inflows from the small-scale mining sector into the official market. This collaborative structure between the Bank and GoldBod has ensured that the DGPP remains anchored in public policy objectives,” it added.
Currently, both inside and outside Africa, countries are increasingly buying gold primarily as a hedge against high inflation, rising interest rates, and concerns about global debt levels.
Another key reason for the ongoing tendency to incorporate gold into central banks’ monetary reserves is the desire to reduce dependence on the U.S. dollar and the global financial system dominated by Western institutions.
In recent years, geopolitical tensions, U.S. sanctions, and the freezing of foreign exchange reserves have highlighted the vulnerability of holding reserves in foreign currencies. By increasing gold holdings, countries can diversify their reserves and protect themselves from political or financial pressure.
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Sources: Xinhua -.
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