An announcement by Ghanaian Vice President Mahamudu Bawumia mentioned that Ghana plans to pay for fuel purchases in gold bars.

The Ghanaian government aims to reduce the depreciation of the national currency, the Cedi, and preserve the country's foreign exchange reserves through its gold bullion payment program. Indeed, in order to be able to carry out this operation, the major mining companies operating in Ghana would have been ordered to sell 20% of their gold stock to the Central Bank as of January 1 next year.

For example, Ghana, which has been producing crude oil for over ten years, has been importing all the refined petroleum products the country needs since the closure of the Tema refinery in 2017. This has caused the decrease in its foreign reserves. From $9.7 billion last year, they are now only $6.6 billion.