Ghana’s Domestic Gold Purchase Programme (DGPP) has emerged as a key driver of economic stability, according to the Bank of Ghana.
Speaking at CNVERGE ’25, Africa’s premier trade banking event, First Deputy Governor Dr. Zakari Mumuni highlighted how the initiative—launched in 2021—has boosted foreign reserves, stabilised the exchange rate, and eased inflation.
By the end of June 2025, the central bank had purchased 145.95 tonnes of gold, selling 86.77 tonnes for foreign exchange support while increasing its physical gold holdings from 8.74 tonnes to 32.99 tonnes.
Dr. Mumuni noted that the DGPP goes beyond reserve accumulation, aiming to unlock the potential of Ghana’s commodity base.
He credited the programme’s success with contributing to the country’s recent credit rating upgrade from “restrictive default” to “B-” with a stable outlook—an improvement that has bolstered investor confidence.
