Africa Policy Lens (APL) has demanded that the Parliament of Ghana launch an urgent and comprehensive probe into the operations and financial administration of the Ghana Accelerated National Reserve Accumulation Programme (GANRAP).
The policy think tank contends that the high-stakes gold acquisition initiative requires immediate legislative oversight to safeguard public resources, guarantee operational transparency, and thoroughly evaluate whether the initiative genuinely serves the broader economic interests of the nation.
“APL is concerned that, Parliament has not till date, subjected GANRAP’s model and cost history to the level of scrutiny that the scale of public funds involved would warrant, raising questions as to why the Majority in Parliament resist the formal probe into the programme.”
Africa Policy Lens (APL)
APL revealed that the government allocated GH¢5 billion to GANRAP after restructuring its operational cost model from 14.5 per cent down to 5 per cent of the total value of gold purchased.
The policy advocacy group noted that GANRAP appears to operate as a direct continuation of the former Domestic Gold Purchasing Programme under a rebranded title, yet state authorities have failed to provide Ghanaians with sufficient information explaining the reasons for the earlier cost structure that reportedly contributed to losses exceeding US$214 million, nor the technical basis for the revised model.
Without clear explanations for past fiscal deficits or detailed justifications for the new fee structure, extractive sector watchdogs argue that committing extensive state capital without rigorous legislative review leaves the public treasury exposed to recurring financial risk.
Financial Opaqueness and Program Rebranding Concerns
Rebranding former public initiatives without publishing audited financial disclosures creates an acute credibility gap that undermines national trust. APL observed that Ghanaian citizens deserve full disclosure regarding how earlier purchasing frameworks accumulated over two hundred million dollars in financial losses before the operational cost model was unilaterally adjusted.
The think tank stated that the apparent resistance by parliamentary leadership to institute a formal inquiry raises troubling questions about fiscal accountability, noting that the sheer volume of public money involved warrants uncompromising oversight.
Independent researchers argue that an exhaustive parliamentary probe must examine historical ledger accounts, verify commission disbursements, and evaluate whether the current purchasing model provides genuine value to the economy or merely masks structural inefficiencies.
Environmental Degradation and Supply Chain Traceability Gaps
A critical dimension requiring urgent parliamentary inquiry is the environmental impact of state gold procurement practices.
APL expressed grave concern that aggressive gold purchase targets pursued by buying entities like GOLDBOD, if executed without robust supply chain traceability measures, risk becoming “a state-sponsored vehicle that funds illegal mining” with environmental commitments apparently subordinated to revenue targets.
When public agencies prioritize export metrics over rigorous source verification, state capital inadvertently fuels unregulated mining activities that devastate ecological zones across the country.
Data from the Media Coalition against Galamsey highlights that the number of affected forest reserves has climbed from 45 to 50, proving that existing enforcement measures have failed to halt environmental destruction.
Furthermore, government progress reports under the Responsible Cooperative Mining and Skills Development Programme (RCOMSDEP) reveal troubling inconsistencies between initial budget commitments, implementation reports, and responses provided under the Right to Information Act, while reports persist that “temporary working licenses and permit have been issued to illegal miners” in direct contravention of established mineral right acquisition procedures.
Regulatory Instability and Deteriorating Investor Confidence
Beyond operational and environmental vulnerabilities, the ongoing governance deficits within GANRAP reflect broader legislative and regulatory instability that threatens Ghana’s mining sector sustainability.
Industry reports confirm that frequent leadership changes and an apparent lack of strategic direction continue to erode investor confidence in national mining initiatives.
Unilateral policy decisions such as introducing a sliding-scale royalty regime ranging from 5 per cent to 12 per cent with retrospective effect, replacing the previous flat 5 per cent rate have created severe anxiety regarding security of tenure for mining leases.
Consequently, global exploration capital is rapidly shifting away to competing regional jurisdictions. According to the Fraser Institute 2025 Annual Survey of Mining Companies, Ghana’s standing on the Investment Attractiveness Index plummeted to 53rd out of 68 jurisdictions, representing a dramatic downgrade from its 46th position out of 82 jurisdictions in 2024.
Conducting a thorough parliamentary probe into GANRAP will signal a decisive commitment to regulatory predictability, transparent natural resource governance, and long-term fiscal responsibility.
