The Bank of Ghana (BoG) has significantly increased its gold reserves over the past two years, with official holdings reaching 36.02 tonnes in August 2025, according to the latest data.

This marks a remarkable rise from 8.78 tonnes in May 2023, reflecting a more than fourfold increase in less than 30 months.

The consistent growth underscores Ghana’s strategy to strengthen its foreign reserves through gold accumulation and reduce dependence on external currencies.

The reserves have grown steadily month by month, surpassing key milestones such as 20 tonnes in January 2024, 30 tonnes in January 2025, and now moving past 36 tonnes in August 2025.

Analysts say the move aligns with the government’s broader efforts to bolster financial stability, hedge against currency volatility, and support the Bank of Ghana’s domestic gold-for-reserves programme.

With Ghana being Africa’s leading gold producer, the buildup of reserves is seen as both a strategic and symbolic step towards greater economic resilience.