Financial Markets Advisor to the Governor of the Bank of Ghana, Dr. Stephen Opata, has advised potential investors in Ghana’s Gold Coins to prepare a minimum investment of ₵10,000.
He mentioned that the coins, which will be accessible to the public via commercial banks, are expected to be priced starting at approximately ₵10,000.
“So initially, obviously, if you want to buy the quarter-ounce coin, you must have savings of ₵10,000 minimum; you must have that. So if you don’t have that, then you would not be able to do that (invest),” he stated during an appearance on Metro TV’s Bottomline program on Monday, September 30, 2024.
The Bank of Ghana (BoG) recently unveiled the Ghana Gold Coin, aimed at offering Ghanaians more diverse investment opportunities.
These coins, which will come in various sizes, are part of the central bank’s Responsible Gold Sourcing Policy Framework.
Dr. Stephen Opata noted that the BoG’s goal is to promote greater inclusivity by introducing these coins, allowing more people to participate in the investment.
“Like I said, if we are able to tokenise this, that’s the next stage that will become very interesting, then we will have more inclusion. So the next stage is going to be interesting.
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. We will even get to the point where Ghanaians should be able to buy this using their mobile money account,” he stated.
Dr. Ernest Addison, Governor of the Bank of Ghana, announced that the newly introduced ‘Ghana Gold Coin’ is made from refined dory gold, achieving a purity level of 99.99%.
Backed by the central bank, the coins have been officially issued and guaranteed.
During a press briefing last week, Dr. Addison highlighted that the gold coins aim to relieve pressure on the cedi by offering an alternative investment option for those who typically buy and hoard foreign currency like the dollar.