Abu Jinapor defends Domestic Gold Purchase Programme, credits Bawumia with its introduction

Former Minister of Lands and Natural Resources, Samuel Abu Jinapor, defended the Domestic Gold Purchase Programme (DGPP) and credited former Vice President Dr Mahamudu Bawumia with its introduction. Jinapor, who was the Minister responsible for Mines when the programme was launched in June 2021, stated that Dr Bawumia conceived the policy during economic difficulties following the COVID-19 pandemic and the Russia-Ukraine war.

The DGPP involved the Bank of Ghana purchasing gold locally from licensed aggregators and mining companies at market prices, thus augmenting Ghana's gold reserves and foreign exchange reserves. By December 2024, Ghana's gold reserves had increased to 30.53 tonnes, surpassing the initial target of doubling reserves within five years.

Through the DGPP, Ghana achieved strong export performance, with gold exports reaching a record US$11.6 billion in 2024. The programme's success contributed to the country's economic stability, as noted by Bank of Ghana Governor Dr Johnson Asiama in January 2026. Jinapor also criticized the government's Ghana Accelerated National Reserve Accumulation Policy (GANARAP) as a renamed version of the DGPP, alleging that it led to the sale of more than half of the gold accumulated under Akufo-Addo/Bawumia's administration.