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[BUSINESS] · Ghana · 21 sources

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Part of situation: Ghana gold reforms face financial scrutiny and political row (70 clusters)

Ghana Gold Board implements new assay regime and clarifies board representation

GoldBod gold assay regime XRF testing Bank of Ghana gold purity standards

The Ghana Gold Board (GoldBod) has announced a major shift in its assay regime for local gold purchases, effective October 1, 2026. Under the new regulations, X-Ray Fluorescence (XRF) testing will become the definitive method for determining gold purity, pricing, and payments. The traditional water-density method will be relegated to an indicative assessment only. If buyers must use the water-density method due to logistical constraints, a 0.7% purity discount will be applied to the transaction.

Concurrently, the Bank of Ghana (BoG) has clarified the status of its representation on the GoldBod Board. Governor Dr. Johnson Pandit Asiama confirmed he resigned from the board approximately five months ago, effective May 11, 2026, to avoid potential conflicts of interest. He has been replaced by Second Deputy Governor Matilda Asante-Asiedu, who serves as the Bank’s official representative in accordance with the GoldBod Act, 2025.

While the Bank of Ghana has maintained its monetary policy rate at 14%, economic discussions continue regarding the resilience of Ghana’s gold-to-foreign-exchange model. Some officials have raised questions about whether the transition of gold-purchase financing from the central bank to GoldBod has effectively managed fiscal risks or merely shifted them to other public sectors.

Entities

Bank of Ghana · Dr. Johnson Asiama · Dr. Mohammed Amin Adam · Ghana · Ghana Gold Board · Gideon Boako · GoldBod · Johnson Asiama · Johnson Pandit Asiama · Johnson Pandit Kwasi Asiama · Matilda Asante-Asiedu · Mohammed Amin Adam

Claims

What the coverage asserts, and how many sources carry each claim.

Sources

BoG Holds Policy Rate at 14% for Second Straight Review [chale.news]
GoldBod changes gold assay regime, makes XRF testing definitive from October 1 [ghananewss.com]
BoG Governor Asiama confirms resignation from GoldBod Board five months ago [kessbenonline.com]
Matilda Asante-Asiedu takes over from Asiama on GoldBod Board [newscenta.com]
'I resigned from the GoldBod Board about five months ago' - BoG Governor Asiama [onuaonline.com]
S&P Global Warns Ghana’s Reserve Accumulation Strategy Could Strain Public Finances [opemsuo.com]
GoldBod financing model faces test as cedi, reserves come under pressure - Gideon Boako - Otec 102. 9 FM [otecfmghana.com]
GoldBod Dismisses Rift Claims, Clarifies BoG Governor Board Representation [rainbowradioonline.com]
BoG Pushes Banks to Innovate Without Shifting Risks to Customers [thehighstreetjournal.com]
Dr Asiama Clears Air On GoldBod Board Exit [ghananewspage.com]
GoldBod to Impose Discount on Water Density Purity Method [thevaultznews.com]
GoldBod changes gold assay rules for local purchases effective October 1 [3news.com]
Ghana’s gold reserve strategy risks undoing public finance gains, says S&P Global [ghanaguardian.com]
GoldBod changes gold testing rules for local purchases from October 1 [ghanaiantimes.com.gh]
We have cut cost of capital by more than half since Mahama took office – Ato Forson [www.mynewsgh.com]
Armah-Kofi Buah has not resigned from GoldBod Board – Ministry clarifies [starrfm.com.gh]
Governor exited GoldBod Board since May– BoG - The Ghanaian Chronicle [thechronicle.com.gh]
Matilda Asante replaces BoG boss on GoldBod board - Today News Ghana [www.todaygh.com]
Nigeria’s Public Debt Hits N166. 79tn, Equal to N716,822 Per Citizen [zalebs.com]
Strategy of accumulating foreign reserves, gold carries high fiscal cost – S&P Global [www.myjoyonline.com]
Bank of Ghana Governor appoints Matilda Asante-Asiedu to GoldBod Board [nairametrics.com]