The Bank of Ghana (BoG) has outlined measures to ensure that the gold that will be used for its Ghana Gold Coin is not derived from illegal miners.
Asked how the BoG ensures that the GGC is not from illegally mined gold, the central bank answered in a Frequently Asked Question that "Gold used for the manufacture of the GGC is from traceable, responsibly mined sources in Ghana in line with the BOG's Responsible Gold Sourcing Framework." The BoG launched its gold coin which will be available on the market in the next two weeks for purchase by investors.
This is the first time the central bank is issuing gold coins as an alternative investment asset available to the general public.
Governor of the BoG Dr Ernest Addison who launched the coin at a press conference in Accra on Friday, September 27 explained that the Ghana gold coin enables the Bank of Ghana to mop up extra liquidity in the banking sector Individuals, he said, can purchase it in three different ounce options at all commercial banks across the country. "Now, if you don't buy dollars, you will buy treasury bills or bonds.