BoG launches gold coins as new investment option

The Bank of Ghana has launched the Ghana gold coin to provide more investment opportunities to Ghanaians.

The gold coin, which is an initiative under its Gold Purchase Programme will be available on the market in the next two weeks.

Addressing the media at the Monetary Policy Committee (MPC) press conference on Friday, September 27, the Governor of the Bank of Ghana, Dr Ernest Addison, said potential investors can purchase the gold coins in three different ounces in all commercial banks across the country.

The ounces include the half-ounce coin and the quarter ounce coin to suit different investment needs.

Dr Addison said the introduction of the gold coins would help ease pressure on the local currency as individuals who buy dollars and hoard them as a form of investment can now buy the gold coins instead.

“If you don’t buy dollars, you will buy treasury bills or bonds. We are giving you an opportunity from the domestic gold purchasing programme to also buy gold.

“This is what we are trying to launch now and we call it Ghana gold coin,” he said.

He said the Ghana gold coin is manufactured from dory gold dug out of Ghana which has been refined to 99% purity.