BoG Tells Bankers and Traders: Cash in on Ghana’s Commodity Boom—But Watch the Risks
The First Deputy Governor of the Bank of Ghana (BoG), Dr. Zakaria Mumuni, has urged bankers, traders, and investors to step up and take advantage of the new wave of opportunities being created by Ghana’s expanding commodity sector.
Speaking at the CNVERGE ’25 trade and banking forum, Dr. Mumuni said Ghana is moving beyond simply shipping raw materials overseas and is now finding ways to use its commodities as strategic tools for building economic resilience, unlocking liquidity, and driving inclusive growth.
He pointed to several potential money-making avenues, including structured financial products such as swaps, forwards, and futures; commodity-backed loans; innovative investment instruments like the Ghana Gold Coin; partnerships in gold aggregation, storage, and trading; and value-addition ventures across the gold supply chain.
“These are not just ideas on paper—they are real, actionable opportunities for growth and innovation,” Dr. Mumuni said, adding that players who move early could position themselves at the heart of Ghana’s commodity-led transformation.
Still, he warned that the road ahead isn’t without hazards. Price swings, market speculation, and the environmental and social costs of mining must be carefully managed. “Bankers and traders need to factor these risks into their strategies if they want long-term success,” he advised.
Dr. Mumuni stressed that the BoG is committed to supporting this global shift—where commodities aren’t just sold for quick cash but are leveraged to boost reserves, attract investment, and create sustainable wealth. He called for strong collaboration between the central bank, the financial sector, and the trading community to ensure Ghana’s commodity boom translates into lasting benefits for businesses and citizens alike.
