Sammy Gyamfi, CEO of Ghana Gold Board (GoldBod), has announced he’ll address the alleged $214 million loss under the Gold-for-Reserves (G4R) program on January 5, 2026. The Minority Caucus in Parliament had demanded an investigation, citing IMF reports, but Gyamfi calls their claims “uninformed and unfounded”, arguing losses were greater under previous administrations. He highlights Ghana’s economic progress, with inflation dropping from 23.8% to 6.3% and the cedi appreciating over 35% against the US dollar.
Gyamfi’s response aims to clarify the G4R program’s performance and counter incomplete reporting. The Chamber of Licensed Gold Buyers attributes the reported losses to timing gaps, gold price volatility, and operational challenges, emphasizing licensed buyers aren’t directly responsible.
