The Minority in Parliament is calling for a bipartisan committee to investigate the alleged $214 million loss in Ghana’s gold trade, specifically under the Gold-for-Reserves program. They’re pushing for transparency, accountability, and environmental governance, citing concerns over the program’s opacity and potential mismanagement.
Kojo Oppong Nkrumah, MP for Ofoase Ayirebi, emphasized that the inquiry should examine contracts, licenses, and intermediaries, including the “Bawa-Rock monopoly”. The Minority also demands publication of fee structures, pricing formulas, and foreign exchange arrangements.
The IMF has flagged these losses as a risk to Ghana’s macroeconomic stability, attributing them to artisanal and small-scale mining dore gold transactions and alleged “GoldBod off-taker fees”. However, GoldBod’s CEO, Sammy Gyamfi, denies any losses, projecting a 600 million cedi surplus for 2025.
