Ghana’s Gold Reserve has increased from eight to 14 tonnes in 18 months after the implementation of the Bank of Ghana domestic gold purchase programme, President Nana Addo Dankwa Akufo-Addo has said.
For well over the century that Ghana has been mining gold, President Akufo-Addo said, “Gold reserves between the 1980s and June 2021, were just eight tonnes.”
“Under the domestic gold purchase programme, our gold reserves have increased from eight to 14 tonnes as of the end of 2022, that is just under eighteen months of the implementation of this programme,” Akufo-Addo said.
Speaking at the official opening of the Graphic Natural Resources Stakeholders Dialogue in Accra on Thursday, President Akufo-Addo said the policy is strategic and capable of changing fundamentally Ghana’s balance of payment position.
President said the gold for Oil Policy is expected to change the country’s balance of payment position significantly to reduce the persistent depreciation of the Cedi.
The two-day forum which is being organised by Graphic Communication Group Ltd in collaboration with the Ministry of Lands and Natural Resources is on the theme, “Harnessing Our Natural Resources Responsibly for our Sustainable Collective Good.”
On his part, the managing director of the Graphic Communication Group Ltd, Ato Afful called for a collaborative effort in protecting the environment.
He said “Sustainability is the key to effective use of our natural resources.
To ensure that the country satisfies current demands without jeopardising the interests and wellness of future generations, Mr Afful said “We must embrace sustainable practices in resource use and management.”
He added, “Let us commit to taking action, learning from what has been done over time, and making a difference for our environment, our communities and our future. By caring and working together, we can create a sustainable future for all Ghanaians; living and unborn.”
Rex Mainoo Yeboah, ISD