The Bank of Ghana (BoG) has launched its gold coin which will be available on the market in the next two weeks.
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.
We are giving you an opportunity from the domestic gold purchasing programme to also buy gold. This is what we are trying to launch now and we call it Ghana gold coin," he said. "The Ghana gold coin is manufactured from dore gold dug out of Ghana which has been refined to 99% purity. It is issued and guaranteed by the bank of Ghana." Addison added "It will be available in three different units.
That is the one-ounce coin, the half-ounce coin and the quarter ounce coin to suit different investment needs.