President John Dramani Mahama has unveiled a renewed economic strategy that positions Ghana’s gold resources as a key pillar in strengthening the country’s financial stability and reducing vulnerability to global shocks.

Addressing Parliament in his State of the Nation Address on Friday, February 27, Mahama noted that projected high gold prices over the next three years offer Ghana a rare opportunity to rebuild strong financial buffers.

He explained that increased earnings from gold could be channelled into boosting international reserves, stabilising the Cedi, and laying the foundation for long-term economic security.

Parliament has since approved the Ghana Accelerated National Reserve Accumulation Policy (GANRAP), a framework aimed at expanding the country’s reserve base to cover up to 15 months of imports by 2028.

Under the plan, Ghana is expected to achieve 8.6 months of import cover by the end of 2026, increase it to 11.8 months in 2027, and reach the 15-month target the following year.

The policy was presented by Cassiel Ato Forson and is supported by the Ghana Gold Board Act.

The law empowers the Gold Board to generate foreign exchange from gold-related activities and channel the proceeds through the Bank of Ghana to strengthen the country’s reserves.

In addition to building reserves, the initiative outlines structural reforms intended to increase foreign exchange inflows and reduce persistent outflows.

Authorities believe these measures will enhance currency stability, improve macroeconomic resilience, and reinforce confidence in Ghana’s overall economic management.