This article reports on a study conducted to assess the carbon storage potential of Bambusa vulgaris, the predominant bamboo species in Ghana. The study aimed to fill a knowledge gap on the potential of bamboo to sequester carbon for climate change mitigation in Ghana. Unlike previous studies that only focused on aboveground biomass, this study assessed belowground, litter, and coarse wood carbon pools. Allometric parameters and models were used to measure the aboveground biomass, while other carbon pools were directly measured. The results showed that the aboveground biomass of B. vulgaris had a carbon stock of 42.85 ± 9.32 Mg C ha−1, which was 73% of the total biomass carbon stock. The carbon stocks of belowground, coarse wood and litter were 8.57, 3.02, and 4.25 Mg C ha−1, respectively. The study also found that B. vulgaris had a high carbon dioxide sequestration potential of 215.39 Mg CO2e ha−1 compared to 147–275 Mg CO2e ha−1 for trees in general. The findings suggest that B. vulgaris could contribute to Ghana's transition to a low-carbon economy through carbon stock monitoring, reporting, and policy development to minimise the impact of climate change. Moreover, the inclusion of relevant carbon pools, including coarse wood and litter, in forest carbon estimates should be encouraged to provide a comprehensive understanding of the plant carbon cycle.