Bank of Ghana gold sale generates GHS13 billion profit
Ghana's central bank sold over 19 tonnes of gold in late 2025, making a GHS13 billion profit. This gain could reduce its 2025 financial loss, which follows large losses in prior years. The sale also helped rebalance Ghana's gold reserves and increase liquidity.
The Bank of Ghana (BoG) sold more than half of its gold reserves in November and December 2025. This transaction generated a profit of about GHS13 billion. The Governor, Dr Johnson Asiama, confirmed this at the 129th Monetary Policy Committee press briefing.
This profit reflects the difference between the gold's purchase price and its higher sale price. Global gold prices rose significantly in 2025. The main reason for the sale was to rebalance Ghana's international reserves. Gold had become a large part of the reserves, increasing exposure to price changes.
This gain is important because the Bank of Ghana has faced financial difficulties since 2022. It recorded a record loss of GHS60 billion in 2022, narrowing to GHS9.3 billion in 2024. Aggressive open market operations cost the Bank GHS17 billion in 2025. Also, domestic gold operations led to over GHS2 billion in losses. The strengthening of the GHS by over 40% in 2025 also caused valuation losses on foreign-currency assets.
The GHS13 billion profit from the gold sale took place at the end of the accounting year. If auditors allow it, this profit can reduce the Bank's 2025 losses. Only realised gains from actual sales can pass through the income statement under the Bank's rules. This is similar to France's central bank which reported €12.8 billion from gold transactions, helping it return to profit.
Source: StatsGH — Ghana's data-driven news platform