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Dr. Stephen Opata, Financial Markets Advisor to the Governor of the Bank of Ghana (BoG), has advised potential investors interested in Ghana’s newly launched Gold Coins to prepare a minimum of ₵10,000 for investment.
Speaking on Metro TV’s Bottomline program on September 30, 2024, Dr. Opata stated that the entry point for purchasing a quarter-ounce of the gold coin will start at ₵10,000. These coins, which will be available through commercial banks, are part of the BoG’s strategy to provide diverse investment opportunities for Ghanaians.
Also read: Mobile Money transactions hit GHS1.775 trillion in the first 8 months of 2024.
The Ghana Gold Coin is a key element of the central bank’s Responsible Gold Sourcing Policy Framework, designed to absorb excess liquidity in the market and offer a secure investment alternative. Dr. Opata emphasized that while the initial phase may cater to individuals with larger savings, the BoG aims to increase inclusivity by tokenizing the coins, potentially allowing future purchases through mobile money accounts.
Dr. Ernest Addison, the Governor of the Bank of Ghana, reiterated that the gold coins are made from refined dory gold, achieving a 99.99% purity level. The coins are backed and guaranteed by the BoG. Their introduction is also part of a broader effort to stabilize the cedi by offering an alternative investment option for people who typically buy and hold foreign currencies like the U.S. dollar.
