Government has stepped up engagement with large-scale mining companies as part of efforts to advance implementation of the Ghana Accelerated National Reserve Accumulation Policy (GANRAP), a flagship initiative aimed at strengthening the country’s foreign exchange reserves and supporting a more stable cedi.
The meeting was co-chaired by the Minister for Finance, Dr. Cassiel Ato Forson, and the Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, and brought together key stakeholders across the mining value chain, including leadership of large-scale mining firms, regulators and policy institutions.
Speaking at the meeting, Dr. Forson said GANRAP is focused on reinforcing Ghana’s external buffers through a reformed gold acquisition framework, underpinned by stronger compliance and oversight mechanisms.
“Our focus is strengthening reserves and supporting a more stable cedi,” the Finance Minister stated.
He explained that government is introducing targeted reforms under GANRAP to improve how gold is acquired from producers and integrated into national reserve management, while tightening regulatory adherence to minimise leakages within the gold value chain.
The reforms include strengthening transparency and traceability in gold transactions, enhancing reporting obligations for mining companies, and improving coordination between key institutions such as the Ghana Gold Board, the Minerals Commission and other regulatory agencies.
Government is also working to streamline gold acquisition processes to ensure efficiency without disrupting legitimate mining operations.
Dr. Forson noted that GANRAP is not intended to undermine investor confidence in the mining sector but rather to align Ghana’s mineral wealth more directly with macroeconomic stability objectives.
“This is a partnership. It is not anti-industry. It is pro-country,” he said, emphasising the need for collaboration between government and industry players to achieve shared national goals.
The engagement was attended by the Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi, as well as senior officials from the Minerals Commission, who outlined ongoing efforts to deepen oversight, improve data integrity, and strengthen enforcement of existing regulations.
Source: businesspostonline
