The Bank of Ghana's assets expanded significantly in March 2026, with the central bank recording a GH¢10.8 billion increase in its balance sheet as stronger foreign asset holdings, rising investments in foreign securities and continued reserve diversification boosted its financial position.
According to the latest Monthly Statistical Bulletin released by the Bank of Ghana, total assets rose from GH¢310.58 billion in February 2026 to GH¢321.38 billion in March, representing a month-on-month growth of 3.5 percent.
The development comes amid signs of economic recovery, supported by improving macroeconomic conditions, relative exchange rate stability and easing inflationary pressures.
The strongest contribution to the asset expansion came from the central bank's foreign asset portfolio.
Foreign assets climbed sharply to GH¢128.0 billion in March from GH¢109.48 billion in February, reflecting an increase of GH¢18.52 billion within a single month. The nearly 17 percent rise points to renewed momentum in reserve accumulation and stronger external asset management.
Although slightly below the GH¢129.73 billion recorded during the same period in 2025, the latest figures indicate a substantial rebound in the country's reserve position.
Market analysts attribute the growth to improving foreign exchange inflows, enhanced reserve management strategies and increasing confidence in Ghana's economic outlook.
Foreign Securities Surge
One of the most notable developments within the central bank's portfolio was the rapid growth in foreign securities holdings.
The value of foreign securities rose to GH¢81.56 billion in March from GH¢65.98 billion in February and GH¢48.52 billion in January. This means the portfolio expanded by more than GH¢33 billion during the first quarter of 2026.
The increase reflects the Bank of Ghana's strategy of diversifying reserve assets through investments in foreign-denominated financial instruments that offer liquidity, flexibility and potential income generation.
Financial market observers say the surge strengthens the resilience of Ghana's reserve portfolio while improving the central bank's ability to manage external risks.
Gold continues to play an increasingly important role in the Bank of Ghana's reserve management framework.
In recent years, the central bank has intensified domestic gold purchases as part of efforts to diversify reserves and reduce dependence on traditional foreign currency assets. The strategy has become particularly important amid global economic uncertainty and exchange rate volatility.
Combined with stronger foreign assets and expanding foreign securities investments, gold has emerged as a key pillar supporting the central bank's financial strength and reserve diversification agenda.
Positive Outlook for Economic Stability
The growth in the Bank of Ghana's asset base is expected to strengthen investor confidence and reinforce perceptions of macroeconomic stability.
A stronger balance sheet enhances the central bank's capacity to manage liquidity, support exchange rate stability and respond to external economic shocks. It also signals progress in Ghana's efforts to build a more resilient and diversified reserve portfolio.
With foreign assets rising sharply, foreign securities recording exceptional growth and gold reserves maintaining their strategic importance, the latest figures provide a strong indication that the Bank of Ghana is reinforcing its financial position as the country continues its path toward sustainable economic recovery and long-term stability.
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