The finance minister has announced that the government will implement a weekly gold purchase target of 3.02 tonnes through the Ghana Accelerated National Reserve Accumulation Policy (GANRAP) to bolster the nation’s external buffers.
This announcement was made on Wednesday, February 15, 2026, when the minister submitted the policy document to the House for consideration.
The initiative, he explained, will be executed in two phases.
Firstly, the Ghana Gold Board (GOLDBOD) will be responsible for procuring a minimum of 2.45 tonnes per week from the Artisanal Small-Scale Mining (ASM) sector, with the aim of generating over $20 billion annually.
The second phase involves the invocation of the state’s pre-emptive right to purchase 20% of output from large-scale miners, equivalent to approximately 0.57 tonnes weekly. For large-scale firms, transactions will be conducted exclusively in cedis at the prevailing interbank rate, with a negotiated discount based on volume.
Notably, the gold must be sold in doré form for in-country processing. An inter-agency committee, co-chaired by the finance and lands ministers, will ensure compliance.
The acquired gold will undergo local refinement before being sent to LBMA-accredited refineries abroad for final stamping and inclusion in the country’s physical reserves.
The central bank will not sell this gold without prior approval from Cabinet and Parliament.
He told the house that this reserve accumulation policy provides a clear, actionable, and forward-looking framework to enhance Ghana’s external resilience.
Ghana is positioned to achieve and sustain reserves equivalent to fifteen (15) months of import cover by 2028. Mr Speaker, the government remains committed to executing this policy with discipline, transparency, and national consensus.
In the long term the objective of the policy is to help build an economic war chest to withstand global economic shocks; to secure macroeconomic stability; to sustain the economic gains made; to improve the standard of living of Ghanaians; and to build lasting national prosperity for future generations.
By: Rainbowradioonline.com/Ghana
