04:28The Bank of Ghana has launched a new form of gold coin this month to encourage saving.
"The Ghana Gold Coin actually gives investors or people with extra savings an opportunity to have another way of investing," said the bank's Dr. Stephen Opata in interview filmed in Accra on Tuesday. "Before the introduction of the gold coin, if you are a resident in Ghana and you want to invest, you can buy tables or bonds. You can invest in shares on the Ghana Stock Exchange."
"If you have a lot of money, you can do real assets, such as real estate. Now, what we are doing here is giving investors another opportunity to invest in a different asset. In this case, it's a premium commodity, gold," he continued. "So, we're really trying to deepen the financial markets by giving investors more opportunities to invest. So, that's the main reason why we are doing this."
According to reports, the coins - in one, half and quarter ounces - will be 99.9 percent purity, and purchasable only in Ghanaian cedi.
It comes after a series of efforts by the Bank of Ghana to stabilise its currency, as it continued to weaken against the dollar, hitting a record low exchange rate in June this year.
Worth its weight in gold? Ghana introduces special coins to encourage saving, boost currency
The Bank of Ghana has launched a new form of gold coin this month to encourage saving.
"The Ghana Gold Coin actually gives investors or people with extra savings an opportunity to have another way of investing," said the bank's Dr. Stephen Opata in interview filmed in Accra on Tuesday. "Before the introduction of the gold coin, if you are a resident in Ghana and you want to invest, you can buy tables or bonds. You can invest in shares on the Ghana Stock Exchange."
"If you have a lot of money, you can do real assets, such as real estate. Now, what we are doing here is giving investors another opportunity to invest in a different asset. In this case, it's a premium commodity, gold," he continued. "So, we're really trying to deepen the financial markets by giving investors more opportunities to invest. So, that's the main reason why we are doing this."
According to reports, the coins - in one, half and quarter ounces - will be 99.9 percent purity, and purchasable only in Ghanaian cedi.
It comes after a series of efforts by the Bank of Ghana to stabilise its currency, as it continued to weaken against the dollar, hitting a record low exchange rate in June this year.
The Bank of Ghana has launched a new form of gold coin this month to encourage saving.
"The Ghana Gold Coin actually gives investors or people with extra savings an opportunity to have another way of investing," said the bank's Dr. Stephen Opata in interview filmed in Accra on Tuesday. "Before the introduction of the gold coin, if you are a resident in Ghana and you want to invest, you can buy tables or bonds. You can invest in shares on the Ghana Stock Exchange."
"If you have a lot of money, you can do real assets, such as real estate. Now, what we are doing here is giving investors another opportunity to invest in a different asset. In this case, it's a premium commodity, gold," he continued. "So, we're really trying to deepen the financial markets by giving investors more opportunities to invest. So, that's the main reason why we are doing this."
According to reports, the coins - in one, half and quarter ounces - will be 99.9 percent purity, and purchasable only in Ghanaian cedi.
It comes after a series of efforts by the Bank of Ghana to stabilise its currency, as it continued to weaken against the dollar, hitting a record low exchange rate in June this year.