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Bawumia was brainchild behind Domestic Gold Purchase Programme – Samuel Jinapor

By GhanaSummary Newsroom1 min read
Bawumia was brainchild behind Domestic Gold Purchase Programme – Samuel Jinapor

He explained that while the country had purchased gold from abroad when it sought to increase its reserves in 1960, the new programme allowed the Bank of Ghana to purchase gold locally from licensed aggregators and mining companies, paying them the Ghana cedi equivalent of the prevailing market price.

According to Mr Jinapor, the programme represented a major departure from Ghana’s previous approach to accumulating gold reserves.

Former Lands and Natural Resources Minister Samuel Abdulai Jinapor has rejected claims that seek to downplay the role of former Vice President Dr Mahamudu Bawumia in the introduction of Ghana’s Domestic Gold Purchase Programme.

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