The Bank of Ghana (BoG) has recently introduced the Ghana Gold Coin, a groundbreaking investment program aimed at curbing the hoarding of foreign currency, particularly the U.S. dollar, within the country.
During the Monetary Policy Committee (MPC) meeting held on September 27, monitored by AngelOnline.com, Governor Dr. Ernest Addison announced that pricing details for the coins will be made available on the the Bank of Ghana (BoG) official website
The Ghana Gold Coin will be available in three denominations: one ounce, half an ounce, and a quarter ounce. The introduction of these gold coins is a strategic move by the Bank of Ghana (BoG) to provide an alternative to foreign currency investments, which have traditionally been preferred by many Ghanaians.
He highlighted the quality of the coins, stating, “The Ghana Gold Coin is crafted from locally sourced gold, refined to an impressive 99.99% purity, and is both issued and guaranteed by the Bank of Ghana.” This high level of purity ensures that the coins are a valuable addition to any investment portfolio.
Dr. Addison emphasized that the Ghana Gold Coin presents a new opportunity for individuals who have previously invested in dollars or treasury bonds and each coin showcases the Ghana Coat of Arms on one side and the Independence Arch on the other. They will also come in elegantly designed wooden boxes, complete with a transparent holder and a certificate of ownership.
He stated, “With the Ghana Gold Coin, there’s an alternative to purchasing foreign currencies for investment.” This groundbreaking initiative is the first time the central bank has issued gold coins as publicly accessible investment assets, reflecting a significant move towards diversifying investment opportunities in Ghana.
