Kojo Oppong Nkrumah, Minority Spokesperson on the Economy and Development Committee, has urged the government to ensure openness and consistency in implementing the Ghana Accelerated National Reserve Accumulation Policy (GANRAP 2026–2028).

Speaking on the floor of Parliament, Oppong Nkrumah stressed, "Ghanaians deserve honesty," noting that GANRAP builds on the long-standing Domestic Gold Purchase Programme, first introduced under former Vice President Dr Mahamudu Bawumia. 

"If this government finds the programme useful, there is no need to rebrand it as something new. Admit that you inherited a working policy and build on it. Candour is central to credible economic management," he charged.

GANRAP aims to add US$9.5 billion annually to Ghana’s reserves through weekly purchases of approximately 3.02 tonnes of gold. The Ghana Gold Board (GOLDBOD) will procure gold from small-scale miners, while the state will have the pre-emptive right to acquire 20% of output from large-scale mining companies. The Ministry of Finance projects the policy will strengthen foreign reserves and provide 15 months of import cover by 2028.

While recognising the policy’s potential benefits, Oppong Nkrumah questioned recent inconsistencies in reserve management. 

He said, "A few weeks ago, they sold 50% of our gold reserves and converted them into U.S. dollar-based assets. Now they are asking Parliament to approve the purchase of more gold to replenish reserves. Why sell at $4,000 per ounce, only to consider repurchasing weeks later at over $5,200?"

He emphasised that efficiency and continuity should guide the policy. 

"The Ghanaian voter is informed and understands economic policies. What matters is building on them responsibly, not rebranding or renaming them."

Oppong Nkrumah also praised elements of GANRAP that align with Bawumia’s earlier G-4-R principles, which focused on domestic resource mobilisation, results-based management, and using gold as a stabilising anchor for the cedi.

However, he warned that without transparency, the programme risks public scepticism and could undermine confidence in national reserve management.

Parliamentarians largely supported GANRAP’s operationalisation, noting its potential to strengthen gross international reserves without additional borrowing, while echoing the call for transparency and efficient implementation.