GANRAP is essentially a rebranding of Domestic Gold Purchase Programme – Jinapor

Former Lands and Natural Resources Minister Samuel Abdulai Jinapor has dismissed the Ghana Accelerated National Reserve Accumulation Policy (GANRAP) as merely a rebranded version of the Domestic Gold Purchase Programme that was initiated under the Akufo-Addo/Bawumia administration. Jinapor, who represents the Damongo constituency in Parliament, made this assertion in a Facebook post on August 31, 2026, in response to remarks made by NPP flagbearer Dr Mahamudu Bawumia regarding the Domestic Gold Purchase Programme.

Jinapor, who was the Minister of Mines during the time the programme was introduced, argued that the government's recent policy was essentially a repackaging of the same initiative. He claimed that the Domestic Gold Purchase Programme was conceived by Dr Bawumia as a strategy to bolster Ghana's gold and foreign exchange reserves during a period of significant economic hardship.

According to Jinapor, the programme, which was officially launched on June 17, 2021, at the Bank of Ghana, saw Ghana's gold reserves grow from 8.77 tonnes at the time of its inception to 30.53 tonnes by December 2024. Dr Johnson Asiama, the Governor of the Bank of Ghana, reportedly acknowledged the policy's contribution to Ghana's external buffers and macroeconomic stability in January 2026.

Jinapor further alleged that the new reserve accumulation policy had led to the sale of more than half of the gold that had been accumulated under the previous Domestic Gold Purchase Programme. He emphasized that the distinction between the two programs was crucial because, in his opinion, the reserves accumulated under the earlier initiative formed a crucial component of Ghana's current economic standing.