The government has engaged large-scale mining companies to advance the implementation of the Ghana Accelerated National Reserve Accumulation Policy (GANRAP), a framework intended to “strengthen reserves and support a more stable cedi” through reforms in gold mobilisation and foreign exchange buffer enhancement. The engagement was co-chaired by Finance Minister Dr. Cassiel Ato Forson and Minister for Lands and Natural Resources Emmanuel Armah-Kofi Buah.
Ato Forson said the policy is anchored on efforts to reinforce Ghana’s external buffers through a “reformed gold acquisition framework” and improved governance structures within the sector. He further noted that implementation will prioritise “enhancing compliance mechanisms” to ensure transparency and efficiency in gold aggregation and related transactions.
According to him, GANRAP is designed to strengthen coordination between state institutions and industry players in order to improve reserve accumulation outcomes. He stressed that the approach is collaborative, stating that it represents “a partnership” aimed at aligning sector operations with broader macroeconomic objectives rather than imposing constraints on industry activity.
The Finance Minister added that the reforms are expected to improve the country’s ability to manage external shocks by increasing gold-backed reserves, while also contributing to currency stability over the medium term.
The engagement brought together key stakeholders across the mining value chain, including large-scale operators, officials from the Minerals Commission, and the Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi. The Ministry indicated that discussions with industry stakeholders were constructive, with emphasis placed on operational adjustments required to support the policy’s rollout.
The government maintains that GANRAP will serve as a central pillar in efforts to strengthen Ghana’s reserve position and improve foreign exchange resilience.
