Gold Purchase Reforms Set to Take Off in 2026 as BoG Targets Stronger Macroeconomic Gains
Ghana’s central bank is preparing to roll out a new phase of reforms to its Domestic Gold Purchase Programme (DGPP) from January 2026, aimed at strengthening the programme’s macroeconomic impact while improving efficiency across the gold value chain.
The Bank of Ghana (BoG) announced that its Board has approved the reforms, which will be implemented in line with provisions in the 2026 Budget to fully resource the Ghana Gold Board (GoldBod). The move is intended to secure the long-term sustainability of the programme and enhance its contribution to currency stability, foreign exchange inflows, and reserve accumulation.
According to the central bank, the reforms are designed to address both the benefits and costs associated with the DGPP, particularly in the downstream segment of operations. Key measures will focus on improving pricing mechanisms, reducing intermediation fees, and strengthening operational efficiency to ensure that gold is purchased at competitive yet economically sound prices.
“These reforms are expected to deliver better value for money, support the small-scale mining sector, and maximise the macroeconomic returns from domestic gold purchases,” the BoG said in a statement.
Since its introduction, the DGPP has become an important policy tool for Ghana, helping to shore up international reserves, stabilise the cedi, and provide access to significant foreign exchange inflows without adding to public debt. By sourcing gold locally, the programme has reduced reliance on external borrowing at a time of fiscal consolidation.
A central pillar of the reform agenda is the continued role of GoldBod as an aggregator, channeling gold from the small-scale mining sector into the formal market. The BoG noted that this collaborative arrangement has ensured that gold-based inflows are aligned with national policy objectives, while supporting formalisation within the mining sector.
With full budgetary support for GoldBod expected in 2026, the central bank believes the restructured DGPP will operate more efficiently and deliver stronger outcomes for both the gold sector and the wider economy.
As Ghana looks beyond macroeconomic stabilisation towards sustained growth, the 2026 reforms signal a strategic effort to refine an existing policy tool rather than abandon it positioning domestic gold purchases as a more effective pillar of economic management in the years ahead.
