Ghana: launch of a gold coin to stimulate savings

The Bank of Ghana has launched a new gold coin to encourage domestic savings and manage liquidity. Available starting in October, this coin, with a purity of 99.99%, will be issued in different sizes: one ounce, half an ounce, and a quarter ounce. Its price will be determined by the auction of the London Bullion Market Association. Governor Ernest Addison emphasized that this initiative aims to absorb excess liquidity in the banking sector while providing Ghanaians with an investment option. However, despite these efforts, the cedi continues to depreciate, reaching a new low of 15.77 to one dollar.Source: Africa News Agency