The Ghana Gold Board (GoldBod), led by its Chief Executive Officer, Sammy Gyamfi, joined the Ministry of Finance, the Ministry of Lands and Natural Resources, the Bank of Ghana and the Ghana Chamber of Mines in executing a landmark Memorandum of Understanding under the Ghana Accelerated National Reserve Accumulation Policy (GANRAP), securing thirty percent (30%) of the nation’s large-scale gold output for the country’s strategic reserves.
GoldBod will serve as a principal implementing institution under the Policy, purchasing and aggregating the gold and channelling it into local refining and reserve accumulation.
The significance of this agreement extends to every Ghanaian.
Stronger national reserves support a more stable cedi, greater price stability in the market, and improved resilience against external economic shocks.
Under the Policy, Ghana is working towards the attainment of fifteen (15) months of import cover by the year 2028, a level considerably above the internationally accepted benchmark for reserve adequacy, while reducing reliance on costly external borrowing.
The Ghana Gold Board extends its sincere appreciation to the Ministry of Finance, the Ministry of Lands and Natural Resources, the Bank of Ghana, the Ghana Chamber of Mines and all participating mining companies for their commitment to this important national undertaking.
