The Bank of Ghana (BoG) has launched the Ghana Gold Coin, providing a new investment opportunity for Ghanaians while addressing excess liquidity in the banking sector. Here’s everything you need to know:
1. What is the Ghana Gold Coin? The Ghana Gold Coin is an alternative investment asset introduced by the Bank of Ghana. It serves as a new way for individuals to diversify their investments beyond traditional options like treasury bills or bonds.
2. Why Has the Coin Been Launched? The introduction of the Ghana Gold Coin is part of the BoG’s effort to mop up extra liquidity in the banking sector. It also aims to create an attractive option for individuals looking to invest in gold without buying foreign currencies.
3. What is the Composition of the Gold Coin? The Ghana Gold Coin is made from dore gold extracted from Ghana and refined to a purity of 99%. It is fully issued and guaranteed by the Bank of Ghana, ensuring its credibility as a secure investment.
4. When and Where Will It Be Available? The gold coin will be available on the market within two weeks from the launch date, according to BoG Governor Dr. Ernest Addison. It will be sold through all commercial banks across the country.
5. Available Sizes of the Coin To cater to different investment needs, the Ghana Gold Coin will be available in three sizes:
- One-ounce coin
- Half-ounce coin
- Quarter-ounce coin
6. How Can You Purchase the Coin? Individuals interested in purchasing the Ghana Gold Coin can do so through commercial banks in Ghana, providing easy access to anyone interested in this new form of investment.
The launch of the Ghana Gold Coin presents a unique opportunity for Ghanaians to invest in the country’s gold resources, while also supporting the central bank’s liquidity management efforts.
