Ghana is set to introduce its highly anticipated Ghana Gold Coin (GGC), giving residents a new avenue for investment.

Dr. Steve Opata, an advisor at the Bank of Ghana in an interview with Metro TV's Bottomline programme on Monday, September 30, 2024, revealed that individuals interested in acquiring the coin will need a minimum of GH¢10,000 to make a purchase.

The coins will be available through commercial banks, and are expected to trade starting from this amount.

What is the Ghana Gold Coin (GGC)?

The Ghana Gold Coin is a premium coin made from responsibly mined gold in Ghana, refined to 99.99% purity. Issued and guaranteed by the Bank of Ghana (BoG), the coin will be available in three sizes: 1 oz, 1/2 oz, and 1/4 oz, allowing for flexibility in investment amounts. Each coin features the Ghana Coat of Arms on the front and the iconic Independence Arch on the back, symbolizing national pride and economic growth.

The GGC will be priced based on the London Bullion Market Association (LBMA) Auction Price from the previous day. Additionally, the exchange rate of the U.S. dollar against the Ghanaian cedi will be factored in using the previous day's Bloomberg Mid-Rate. The price of the coin will be updated daily and published on the BoG website.

Why invest in the Ghana Gold Coin?

According to Dr. Opata, the introduction of the GGC is part of the BoG’s domestic gold purchase programme. Investing in gold provides a natural hedge during economic uncertainty, offering stability and a long-term store of value. By introducing the GGC, the BoG aims to broaden access to this enduring financial asset and diversify the portfolios of local investors.