The Ghana Gold Board (GoldBod) has partnered key state and industry stakeholders to sign a landmark Memorandum of Understanding under the Ghana Accelerated National Reserve Accumulation Policy (GANRAP).
The agreement guarantees thirty percent (30%) of the nation’s large-scale gold production for strategic reserves. Led by Chief Executive Officer Sammy Gyamfi, GoldBod joined the Ministry of Finance, the Ministry of Lands and Natural Resources, the Bank of Ghana, and the Ghana Chamber of Mines to finalize the deal.
Under the framework, GoldBod will act as a primary implementing body, tasked with purchasing, aggregating, and channeling the gold into domestic refining and reserve accumulation.
The initiative aims to build Ghana’s strategic reserves to secure fifteen months of import cover by 2028, significantly exceeding international benchmarks for reserve adequacy while curbing dependence on expensive foreign loans.
The Policy directly impacts the broader economy by bolstering national reserves to stabilize the cedi, manage market prices, and cushion the country against global economic shocks.
GoldBod commended the partner ministries, the central bank, the Chamber of Mines, and participating mining firms for their dedication to advancing the national policy.
By: Rainbowradioonline.com/Ghana
