The Governor of Bank of Ghana (BoG), Dr. Johnson Pandit Asiama has revealed that the Domestic Gold Purchase Programme (DGPP) was introduced during a severe economic crisis to stabilize the economy and protect the cedi.
The programme, launched when Ghana’s traditional economic defences were failing, has been credited with restoring market confidence and strengthening the country’s external buffers.
Dr. Asiama emphasized that the programme’s success should shift focus from its existence to how it should be governed and sustained in the national interest.
He acknowledged the financial burden on the central bank but maintained that it was a necessary step to protect the wider economy.
The programme has contributed significantly to Ghana’s foreign exchange reserves, with gold holdings increasing from 8.74 tonnes in 2021 to over 34 tonnes by 2025.
The BoG plans to refine the programme, ensuring it aligns with international best practices and is anchored within a broader government framework.
