Government engages mining firms to boost gold reserves under GANRAP policy

The Government of Ghana has intensified efforts to strengthen the country’s foreign reserves by engaging large-scale mining companies under the Ghana Accelerated National Reserve Accumulation Policy (GANRAP).

The meeting, co-chaired by Finance Minister Dr Cassiel Ato Forson and Minister for Lands and Natural Resources Emmanuel Armah-Kofi Buah, brought together key stakeholders across the mining value chain to discuss the implementation of the policy Yesterday in Accra.

Dr Forson emphasised that GANRAP is designed to reinforce Ghana’s external buffers while promoting a more stable cedi.

He noted that the initiative focuses on reforming gold acquisition processes and introducing stricter compliance measures to ensure transparency and efficiency.

“Our focus is strengthening reserves and supporting a more stable cedi,” he stated.

According to the Finance Minister, the government is undertaking targeted reforms aimed at improving how gold is acquired, alongside enhancing oversight and adherence to regulatory frameworks.

Dr Forson described the engagement as productive, stressing that the success of GANRAP depends on collaboration between government and industry players.

“This is a partnership, it is not anti-industry, it is pro-country,” he said.

He concluded by describing GANRAP as a key component of the government’s broader economic strategy, aimed at building a stronger reserve position, reducing vulnerability to external shocks, and ensuring long-term currency stability.

The meeting was attended by leading figures in the mining sector, including the Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi, as well as officials from the Minerals Commission.