The Bank of Ghana has introduced the Ghana Gold Coin (GGC), available in different sizes to cater to various investment needs. Launched as part of the central bank’s domestic gold purchase program, the GGC aims to provide an additional investment avenue and help manage cedi liquidity in the banking sector.
The GGC, guaranteed by the Bank of Ghana, comes in three sizes: one ounce, half ounce, and quarter ounce, each featuring the Ghana Coat of Arms on the front and the Independence Arch on the reverse. The coins are priced based on the previous day’s London Bullion Market Association (LBMA) Auction PM Price, with an ounce priced at GH₵45,020, half an ounce at GH₵22,409, and a quarter ounce at GH₵11,188.
Commercial banks will facilitate the transactions, requiring customers to open a gold account with the central bank. They may also charge a uniform transaction fee to cover the value-added costs, including a wooden storage box provided by the Bank of Ghana.
Governor Dr. Ernest Addison highlighted that the GGC democratizes access to gold, enabling Ghanaians to diversify their financial portfolios. “The issuance of the GGC broadens access to this enduring financial asset,” Dr. Addison remarked at the launch in September.
By: Yasmin Rafat
