By Maxwell Akalaare Adombila
Reuters
Monday, May 18, 2026
Ghana has asked large-scale gold miners to sell 30% of annual output to the central bank as part of a revamped reserve-building drive, up from 20%, a senior official told Reuters, though miners say key commercial terms remain unresolved.
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Central banks are increasingly stockpiling bullion as soaring prices boost its appeal as a reserve asset. Ghana, Africa's top gold producer, launched its bullion purchase program in 2022, later securing an agreement with miners through the Ghana Chamber of Mines to supply 20% of annual output to the central bank.
Gold reserves climbed to 19.2 metric tons in February, Bank of Ghana data showed, helping stabilise the Ghanaian cedi and rebuild external buffers as the economy recovers from its worst crisis in a generation. ...
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