The Ghana Gold Board (GoldBod) has announced a November 2026 target of US$1.2 billion in foreign exchange (FX) from its artisanal and small‑scale mining (ASM) gold trade operations. The plan allocates US$800 million of the proceeds to sales through the GoFX platform, earmarked for authorised commercial banks.
GoldBod’s projection follows the generation of US$1.011 billion from ASM gold trading in October, all of which was sold to commercial banks via GoFX to support FX market stability. The November allocation represents roughly two‑thirds of the projected FX proceeds.
According to a statement issued on November 2, the sales will be conducted under the Board’s approved FX Sales and Intermediation Framework, a scheme designed to ensure transparency, fairness and regulatory compliance in FX transactions.
GoldBod said the move comes as Ghana continues efforts to strengthen foreign exchange supply and build external reserves. The Board will also support the Bank of Ghana’s reserve accumulation under the Ghana Accelerated National Reserve Accumulation Policy (GANRAP).
The Board’s operations are grounded in its statutory mandate under Section 2(b) of the Ghana Gold Board Act, 2025 (Act 1140), which authorises FX generation through the country’s gold trade.
The impact on market conditions will depend on the timing of the sales and how the proceeds are distributed across the banking system.
