The Bank of Ghana will soon start purchasing gold from the local market to help shore up its reserves.
This will happen after it launches the domestic gold purchase programme a few hours from now.
The initiative will help the Central Bank increase its reserves that are held in gold.
The Governor of the Bank of Ghana, Dr. Ernest Addison, last year announced that a decision has been taken to increase the country’s reserves.
Joy Business is learning that the Central Bank reserves had been held in different investment instruments, and therefore this move is seen as historic.