The government has begun high-level discussions with major mining companies as part of efforts to accelerate the implementation of the Ghana Accelerated National Reserve Accumulation Policy (GANRAP), a strategy designed to strengthen the country’s foreign reserves and support the stability of the cedi.
The meeting, jointly led by Finance Minister Dr. Cassiel Ato Forson and Minister for Lands and Natural Resources Emmanuel Armah-Kofi Buah, brought together key players in the mining sector. These included executives from large-scale mining firms, representatives from the Ghana Gold Board, and officials from the Minerals Commission.
Speaking at the engagement, Dr. Forson explained that GANRAP is built on reforms to Ghana’s gold acquisition system, coupled with stronger compliance and regulatory oversight. According to him, the ultimate goal is to enhance the country’s reserve base while ensuring a more stable local currency.
“Our focus is strengthening reserves and supporting a more stable cedi,” he stated.
He further noted that the policy will streamline gold purchasing processes, improve transparency, and help Ghana capture more value from its natural resources to boost its foreign exchange buffers.
Also present at the meeting was the Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi, who contributed to discussions on how best to operationalise the policy.
Dr. Forson described the engagement as productive, emphasising that government’s approach is not confrontational but collaborative.
“This is a partnership. It is not anti-industry. It is pro-country,” he added.
GANRAP is expected to play a central role in Ghana’s medium-term economic strategy, as authorities work to build stronger reserves, reduce vulnerability to external shocks, and maintain exchange rate stability.
