Founded in 2018, Royal Ghana Gold Limited is a joint venture between the Bank of Ghana and Rosy Royal Minerals Ltd, a mining conglomerate based in India.

The Bank of Ghana (BoG), established in 1957, is the central bank of Ghana. By partnering with Royal Ghana Gold, the BoG stands to benefit in several ways. Access to locally purified gold will enable the BoG to accumulate refined gold, thereby organically building its foreign exchange reserves and reducing reliance on external borrowing.

Moreover, the availability of refined gold will allow the BoG to produce gold coins and offer them as a safe-haven asset to the people of Ghana. This initiative would support financial stability, one of the central bank's primary responsibilities.

At the inauguration of the Royal Ghana Gold refinery, Dr. Ernest Addison, Governor of the Bank of Ghana, highlighted that the refinery would bolster the Domestic Gold Purchase Programme (DGPP) of the BoG. He emphasized that the establishment of the refinery aligns perfectly with the BoG's objectives, including protecting the Ghanaian economy from external shocks and ensuring price stability within the country.

Rosy Royal Minerals Ltd was founded on 19 Jun, 2009 in Ahmedabad, India, by its chief promoter, Mr. Murtaza Samiwala. Located in the mineral-rich state of Gujarat, Rosy Royal was established with the vision of unlocking India’s vast mining potential.

While India boasts a diverse mining landscape with a wide variety of minerals, Rosy Royal chose to specialize in the mining and processing of granite, marble, and sandstone. To support this focus, the company established the first integrated plant capable of processing all three minerals.

This state-of-the-art facility, located in Gujarat, has the capacity to produce 2 million square meters of stone slabs and tiles annually. By processing these minerals on such a large scale, Rosy Royal has become the leading company in its category in Gujarat.

More recently, Mr. Murtaza Samiwala founded Rare Earth Jewels Pvt Ltd in India to create natural diamonds in an environmentally responsible manner. This initiative marked Mr. Samiwala’s foray into the business of precious metals.

These achievements, however, were not without significant challenges. The Indian mining sector has traditionally been chaotic and unorganized, plagued by issues such as an unstable raw material supply chain, inconsistent standards, and infrastructural and logistical difficulties. Despite these hurdles, Rosy Royal Minerals, under the strong leadership of Mr. Murtaza Samiwala, successfully navigated these challenges and achieved remarkable success.

Mr. Murtaza Samiwala, through his company Rosy Royal Minerals, has partnered with the Bank of Ghana to create Royal Ghana Gold. Mr. Murtaza Samiwala brings his extensive experience and expertise in the mining sector to Ghana’s gold refining industry. His proven ability to overcome challenges will be instrumental in driving the growth of Ghana’s emerging refining industry. Furthermore, as a leading exporter of minerals and precious metals from India, Mr. Samiwala’s invaluable knowledge of international markets will help Ghana position its refined gold on the global stage.