By Ashiadey Dotse
The latest Monthly Statistical Bulletin for March 2026 of the Bank of Ghana (BoG) has recorded a significant increase in its total assets, which rose to GH¢321.38 billion in March 2026, driven by stronger foreign asset holdings, higher gold reserves and increased investments in foreign securities.
According to the Bank’s latest Monthly Statistical Bulletin, total assets increased from GH¢310.58 billion in February 2026, representing a month-on-month growth of GH¢10.8 billion, or 3.5%.
Compared to the same period last year, the Bank’s assets grew by GH¢7.98 billion from GH¢313.40 billion in March 2025, reflecting an annual increase of 2.6%.
The report attributed the growth mainly to a sharp increase in foreign assets, which rose from GH¢109.48 billion in February to GH¢128 billion in March 2026. This represents an increase of GH¢18.52 billion, or nearly 17%, within one month.
The Bank said the improvement reflects stronger foreign exchange inflows, increased gold accumulation and improving macroeconomic conditions, which have helped strengthen Ghana’s external reserves.
Foreign securities recorded the biggest increase within the Bank’s foreign asset portfolio. Holdings in foreign securities climbed to GH¢81.56 billion in March, up from GH¢65.98 billion in February and GH¢48.52 billion in January.
This means investments in foreign securities have increased by more than GH¢33 billion during the first quarter of 2026, making them one of the fastest-growing components of the central bank’s balance sheet.
The report said the rise demonstrates the Bank’s efforts to strengthen its reserve assets through investments in foreign financial instruments that provide liquidity, diversify reserves and generate income.
Gold also continued to play an important role in the Bank’s reserve management strategy. The report noted that the Bank has steadily increased its gold holdings over the past two years through domestic gold purchase programmes aimed at reducing reliance on foreign currency reserves.
According to the Bank, the higher gold reserves have helped cushion the economy against exchange rate fluctuations and external economic shocks.
The stronger balance sheet comes as Ghana’s economy continues to show signs of recovery, supported by improving macroeconomic indicators following the country’s IMF-backed reform programme.
The report noted that a stronger central bank balance sheet boosts confidence in Ghana’s economy, enhances the Bank’s ability to manage liquidity, supports exchange rate stability and strengthens the country’s capacity to withstand external shocks.
It added that the latest figures signal continued progress in Ghana’s reserve accumulation efforts and improving economic fundamentals.
