Ghana has taken a major step towards strengthening its economic resilience after the Ministry of Finance, the Bank of Ghana (BoG), GoldBod and the Ghana Chamber of Mines signed a landmark Memorandum of Understanding (MoU) under the Ghana Accelerated National Reserve Accumulation Policy (GANRAP).
The agreement secures 30% of Ghana’s large-scale gold production for the country’s strategic reserves, as government intensifies efforts to build stronger international reserves and enhance economic security.
The initiative is expected to support Ghana’s reserve accumulation strategy and provide greater protection against external economic shocks.
Under the plan, Ghana is targeting 15 months of import cover by 2028, a level that would significantly exceed the commonly used benchmark for reserve adequacy.
The increased gold reserves are also expected to strengthen confidence in the economy and provide additional support for the stability of the Ghana Cedi.
The initiative brings together key institutions and major players in Ghana’s mining industry, with the Ghana Chamber of Mines and participating mining companies committing to the national reserve accumulation effort.
The agreement forms part of broader government efforts to use Ghana’s gold resources to strengthen the country’s financial position, improve reserve buffers and enhance economic stability.
The participating institutions expressed their commitment to working together to ensure the successful implementation of the arrangement and contribute to Ghana’s long-term economic security.
