Global site navigation

Ghana Gold Coin: Bank Of Ghana Indicates That Minimum Price Is Set At GH¢10,000
Business and Economy

Ghana Gold Coin: Bank Of Ghana Indicates That Minimum Price Is Set At GH¢10,000

by  Delali Adogla-Bessa 2 min read
  • The Bank of Ghana has indicated that people will need at least GH¢10,000 for the Ghana Gold Coin
  • The Bank of Ghana eventually wants to allow purchases of the gold coins with mobile money
  • The Bank of Ghana governor earlier said that coins would be available later in October this year

PAY ATTENTION: Follow YEN's WhatsApp channel for a daily dose of breaking news on the go!

An advisor at the Bank of Ghana has indicated that people will need a minimum of GH¢10,000 to purchase the new Ghana Gold Coin.

The advisor, Dr Steve Opata, said the central bank was trying to ensure inclusivity with the coins.

The Bank of Ghana wants the gold coin to be an alternative investment asset and buyable through mobile money.
The Bank of Ghana wants the gold coin to be an alternative investment asset and buyable through mobile money.
Source: Getty Images

He also told Metro TV that the Bank of Ghana eventually wanted to allow purchases with mobile money.

"We want to go into this project in phases, and as we gauge the success and roll this out, we will see that more people will be included."

Read also

African Games LOC Justify Amount Spent on Athletes Feeding, Claim There Was No Food Poisoning

PAY ATTENTION: Follow us on Instagram - get the most important news directly in your favourite app!

The Bank of Ghana introduced the coins on September 27 as part of its efforts to provide Ghanaians with alternative investment options.

The coins, which are scheduled to be available in different sizes, are part of the central bank's Responsible Gold Sourcing Policy Framework.

According to Dr. Opata, the central bank is aiming to increase inclusivity by introducing the coins.

Why did BoG launch the gold coins?

The central bank also stated that it had launched the coins to mop up extra liquidity in the banking sector.

At the launch of the coins, the governor of the Bank of Ghana said the coins would be available in October 2024.

The Ghana Gold Coin is made from gold ore dug in Ghana and refined to 99% purity, which the BoG will guarantee.

Read also

PURC increases electricity tariff by 3.02%, 1.86% for water

Mobile money transactions hit GH¢1.775 trillion

YEN.com.gh also reported that mobile money transactions in Ghana amounted to GH¢1.775 trillion in the first eight months of 2024.

The Bank of Ghana's September 2024 Summary of Economic and Financial Data outlined figures on mobile money transactions.

As of August 2024, there were 70.5 million mobile money accounts in the country, of which 22.8 million are considered to be active.

The government accrued an amount of GH¢810.5 million from the Electronic Transactions Levy during the first half of 2024.

Proofread by Bruce Douglas, senior copy editor at YEN.com.gh

New feature: Сheck out news that is picked for YOU ➡️ click on “Recommended for you” and enjoy!

Source: YEN.com.gh

Authors:
Delali Adogla-Bessa avatar

Delali Adogla-Bessa (Current Affairs Editor) Delali Adogla-Bessa is a Current Affairs Editor with YEN.com.gh. Delali previously worked as a freelance journalist in Ghana and has over seven years of experience in media, primarily with Citi FM, Equal Times, Ubuntu Times. Delali also volunteers with the Ghana Institute of Language Literacy and Bible Translation, where he documents efforts to preserve local languages. He graduated from the University of Ghana in 2014 with a BA in Information Studies. Email: delali.adogla-bessa@yen.com.gh.

Tags:
Hot: