Cassiel Ato Forson outlines plan to purchase 3 tonnes of gold weekly under GANRAP
February 25,2026
Ghana’s Finance Minister, Cassiel Ato Forson, has presented the operational framework for the Ghana Accelerated National Reserve Accumulation Policy (GANRAP), a strategy aimed at strengthening the country’s external reserves through large-scale gold purchases.
Addressing Parliament on Wednesday, Dr. Forson disclosed that the policy targets the acquisition of 3.02 tonnes of gold weekly to help Ghana achieve a 15-month import cover.
The plan has two key components. First, the Ghana Gold Board (GOLDBOD) will procure at least 2.45 tonnes per week from the Artisanal Small-Scale Mining (ASM) sector, with projections of generating over US$20 billion annually.
Second, the state will exercise its pre-emptive right to purchase 20% of output from large-scale mining companies, equivalent to approximately 0.57 tonnes weekly.
Under the arrangement, large-scale miners will sell gold in cedis at the prevailing interbank rate, with negotiated volume-based discounts. All gold must be delivered in doré form for local refining before being sent to LBMA-accredited refineries abroad for final certification and inclusion in Ghana’s physical reserves.
An inter-agency committee, co-chaired by the Finance and Lands Ministers, will oversee enforcement. The Bank of Ghana will require approval from Cabinet and Parliament before any sale of the accumulated gold reserves.
