Ghana’s Gold Pivot and Investment Cap Signal New Currency Defense Strategy in Africa

As governments across Africa recalibrate financial policy to strengthen economic resilience, Ghana has introduced a significant regulatory adjustment aimed at protecting its currency and reinforcing macroeconomic stability. Ghana’s Securities and Exchange Commission (SEC) announced that, with immediate effect, local fund managers will be permitted to invest no more than 20 percent of their assets under management in foreign securities. Funds that were previously allowed to invest all of their assets offshore will now be capped at 70 percent. The directive formed part of a broader national effort to stabilize the currency and strengthen Ghana’s external buffers. President John Mahama has set an ambitious target to grow the country’s foreign exchange reserves beyond 20 billion US dollars by 2029, positioning reserve accumulation as central to restoring macroeconomic stability and strengthening resilience against global shocks