Ghana has secured the 5th spot in Africa as the largest holder of central bank gold reserves, according to data from International Statistics.
Globally, the country ranks 60th, reflecting its growing emphasis on gold as a strategic asset.
The figures reveal that Ghana’s gold reserves currently stand at 28.1 tonnes, accounting for 41.2% of its total reserves.
This marks significant growth since May 2023, when reserves were under 9 tonnes. In the same month, Ghana added 1 tonne, contributing to its steady increase in gold holdings.
Globally, the United States leads with 8,133.5 tonnes of gold reserves, followed by Germany with 3,351.5 tonnes and the International Monetary Fund (IMF) in third place with 2,814 tonnes.
In Africa, Algeria tops the chart with 173.6 tonnes, while Libya follows in 2nd place with 146.7 tonnes. Egypt ranks 3rd with 126.8 tonnes, and South Africa takes 4th place with 125.4 tonnes.
Despite fluctuations in gold prices, global central bank demand remains strong. As of the third quarter of 2024, year-to-date gold purchases—both reported and unreported—total 694 tonnes, rivalling the high levels seen in 2022.
While rising gold prices have moderated buying and triggered some tactical sales in recent months, October saw a rebound in reported activity, underscoring continued interest from central banks to include gold in their reserve portfolios.
This trend reaffirms gold’s importance as a strategic asset for risk management and reserve diversification.