Why Ghana Holds Over 140 Tonnes of Gold Reserves Annually
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Ghana, Africa’s top gold producer, has emerged as a global leader in gold reserves, generating over 140.6 tonnes annually. This remarkable figure is driven by a combination of abundant natural resources, strong mining infrastructure, and strategic policy decisions.
Major mining operations in regions like Ashanti and Western Ghana, along with thousands of small-scale and artisanal miners, contribute significantly to this output. In recent years, the Bank of Ghana has intensified efforts to convert more of this production into national reserves through its “Gold for Reserves” program.
This initiative mandates gold miners to sell a portion of their output locally, allowing the central bank to build up its reserves and strengthen the national currency, the cedi. As a result, Ghana’s official gold reserves have risen from under 9 tonnes in 2023 to over 31 tonnes in 2025.
Additionally, gold accounts for nearly 40% of Ghana’s foreign exchange earnings and around 12% of its GDP, making it a crucial pillar of the economy. Despite challenges like illegal mining and environmental concerns, Ghana continues to formalize the sector, aiming to turn its rich gold resources into long-term financial stability and economic strength.
