The Bank of Ghana (BoG) has reported that the Domestic Gold Purchase Programme (DGPP) incurred losses totaling GH¢5.66 billion in 2024, highlighting the financial challenges faced by the initiative.
According to the central bank, the losses arose primarily from operational costs, fluctuations in gold prices, and the structural dynamics of the programme, which was initially designed to formalize the sale of gold from small-scale miners and reduce reliance on informal channels.
The DGPP, which has been a key policy tool for the government, aims to enhance transparency in gold trading, ensure compliance with regulatory standards, and support domestic revenue mobilization.
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While the programme has contributed to increasing the traceability of gold production and improving sector governance, the BoG noted that the losses reflect the difficulty of sustaining profitability amid global market volatility and the high costs associated with purchasing, processing, and monitoring gold from multiple local sources.
The Bank of Ghana emphasized that measures are being considered to stabilize the programme and reduce future losses, including reviewing pricing mechanisms, strengthening partnerships with miners, and improving operational efficiency.
Officials reaffirmed their commitment to ensuring that the DGPP continues to support economic growth and revenue generation while safeguarding the interests of miners and stakeholders.
The report has prompted calls from industry experts for a careful reassessment of the programme to balance its developmental objectives with financial sustainability, ensuring that it remains a viable tool for the domestic gold sector.
