The Government of Ghana has signed a landmark Memorandum of Understanding (MoU) with the Ghana Chamber of Mines and participating large-scale mining companies to secure 30% of the country’s large-scale gold production for strategic reserves.
The agreement, signed on Thursday, forms part of the government’s efforts under the Ghana National Reserves Accumulation Programme (GANRAP) to strengthen the country’s gold reserves and build a stronger financial buffer against external economic shocks.
According to the statement announcing the agreement, the government has set a target of achieving 15 months of import cover by 2028.
The initiative is expected to contribute to the accumulation of gold reserves, which the government believes will help strengthen Ghana’s economic position, support the stability of the cedi and provide greater protection against external shocks.
The government expressed appreciation to the Ghana Chamber of Mines and the participating large-scale mining companies for their commitment to the initiative.
The agreement forms part of broader efforts to build what the government describes as an “economic war chest” to strengthen Ghana’s financial resilience and safeguard the country’s economic future.
The government said continued collaboration between the state and the mining sector would be critical to achieving the reserves target and strengthening Ghana’s economic resilience.
