After years of losses, BoG tightens controls and slashes fees in Gold Programme overhaul

 The Bank of Ghana (BoG) has tightened controls and reduced transaction costs under its Domestic Gold Purchase Programme following the recording of audited losses over several years. ​Read More

The Bank of Ghana’s Domestic Gold Purchase Programme (DGPP) was launched in 2021 as a stabilisation tool during severe foreign‑exchange shortages — not as a profit‑making initiative. The Bank intentionally absorbed costs in the national interest to support the cedi and reserves.

How BoG’s gold strategy quietly pulled in $17bn and held the economy together

 When Ghana’s foreign exchange buffers thinned and confidence in the economy wavered, the Bank of Ghana turned to gold. ​Read More

Summary:

In 2021, when foreign exchange reserves were dangerously low and the cedi under pressure, the **Bank of Ghana launched the Domestic Gold Purchase Programme (DGPP) to stabilise the economy and rebuild FX buffers. Gold was used as a strategic tool because Ghana is one of Africa’s top gold producers.