Ghana Extractive Industries Transparency Initiative — transparency and governance monitoring body for mining sector, cited in reports on royalty misuse.
Co-Chair of the Ghana Extractive Industries Transparency Initiative (GHEITI), Dr Emmanuel Steve Asare Manteaw, has defended the financial losses incurred by the Ghana Gold Board (GoldBod), describing them as necessary costs in its bid to take control of the country’s gold market. …
Co-Chair of the Ghana Extractive Industries Transparency Initiative (GHEITI), Dr Emmanuel Steve Asare Manteaw, says the financial losses recorded by the Ghana Gold Board (GoldBod) must be viewed within the context of the highly competitive gold market it entered. …
Co-Chair of the Ghana Extractive Industries Transparency Initiative (GHEITI), Dr Emmanuel Steve Asare Manteaw, says the $1.7 billion loss incurred by the Ghana Gold Board (GoldBod) is justified by the foreign exchange gains and wider economic benefits generated by the programme. …
Policy analyst and Co-Chair of the Ghana Extractive Industries Transparency Initiative (GHEITI), Dr Emmanuel Steve Asare Manteaw, has challenged criticism of losses recorded under the Ghana Gold Board’s (GoldBod) domestic gold purchase programme. …
… Dr Emmanuel Steve Asare Manteaw, a member of the MSG, made the call at a media engagement to disseminate the findings of the 2023 Ghana Extractive Industries Transparency Initiative (GHEITI) Report in Accra. …
… Emmanuel Steve Asare Manteaw, a member of the MSG, made the call at a media engagement to disseminate the findings of the 2023 Ghana Extractive Industries Transparency Initiative (GHEITI) Report in Accra. …
… Dr Emmanuel Steve Asare Manteaw, policy analyst and co-chair of the Ghana Extractive Industries Transparency Initiative (GHEITI), says evidence from successive GHEITI reports suggests that revenues meant to support local development are frequently diverted towards recurrent spend …
… Against that backdrop, the Ghana Chamber of Mines and Ghana Extractive Industries Transparency Initiative (GHEITI) have agreed to undertake a comprehensive assessment of the country’s effective tax take from major mining concessions in a move that could influence future debates o …
Dr Emmanuel Steve Asare Manteaw, co-chair of GHEITI, has defended the Ghana Gold Board's financial losses as necessary costs in gaining control of the gold market, arguing that Ghana has recorded losses from gold purchase programmes in previous years (2022–2025) and that the focus should be on foreign exchange generated rather than losses alone. In 2024, Ghana recorded total losses of ¢5.7 billion from the Gold for Oil programme and domestic gold purchases for reserves, while gold export revenue that year was $4 billion.
Dr Emmanuel Steve Asare Manteaw, co-chair of GHEITI, has defended the Ghana Gold Board's financial losses as necessary costs in gaining control of the gold market, arguing that Ghana has recorded losses from gold purchase programmes in previous years (2022–2025) and that the focus should be on foreign exchange generated rather than losses alone. In 2024, Ghana recorded total losses of ¢5.7 billion from the Gold for Oil programme and domestic gold purchases for reserves, while gold export revenue that year was $4 billion.
According to Dr Emmanuel Steve Asare Manteaw, co-chair of the Ghana Extractive Industries Transparency Initiative, the Ghana Gold Board's financial losses stem from having to offer higher prices to miners in order to compete with foreign buyers—particularly Indians and Chinese—who had already established relationships with miners and provided them money, equipment, and resources in exchange for gold.
Ghana's Co-Chair of GHEITI Dr Emmanuel Steve Asare Manteaw argues that the Ghana Gold Board's $1.7 billion loss is warranted by the foreign exchange gains and economic stabilisation it generates, noting that previous governments similarly incurred losses through gold purchase programmes across 2022–2025.
Policy analyst Dr Emmanuel Steve Asare Manteaw argues that Ghana's Gold Board losses are not unprecedented, citing losses in 2022, 2023, 2024, and 2025. He notes that in 2024 Ghana recorded a combined loss of ¢5.7 billion from Gold for Oil and domestic gold purchases for reserves, and argues these should be viewed as transaction costs for securing foreign exchange rather than unexplained losses.
Ghana's Extractive Sector Multi-Stakeholder Group has called on Parliament to summon State agencies over delays in disbursing mineral royalties to mining host communities, saying the delays are stalling development projects and disrupting local planning. The Group attributed the persistent delays to weak oversight and called for Parliament to ensure compliance with the Minerals Development Fund Act, 2016, and make information on delayed payments public.
Ghana's Extractive Sector Multi-Stakeholder Group has urged Parliament to summon State agencies over delays in disbursing mineral royalties to mining host communities, saying the delays are stalling development projects and undermining the Minerals Development Fund Act. The group called for Parliament to hold state institutions accountable and make public information on delayed payments to strengthen transparency.
Governance experts, citing Ghana Extractive Industries Transparency Initiative reports, say district assemblies are diverting mineral royalty revenues towards recurrent spending rather than long-term investment projects, limiting sustainable development in mining communities.
Ghana's large-scale mining sector contributed more than GH¢22.22 billion to the economy in 2025 despite global challenges including geopolitical tensions and supply chain disruptions. The sector supported 13,819 direct jobs, spent about US$4.2 billion on local procurement, and invested US$88.6 million in community development initiatives.
The government will submit the Damang Gold Mine lease agreement to parliament for ratification following its takeover by Engineers and Planners after Gold Fields' lease expired. The Lands and Natural Resources Minister said suspending operations pending ratification was not viable given the thousands of jobs and economic activities linked to the mine.
The Institute of Economic Affairs has called on the government to reject Gold Fields' application for a 20-year lease extension of the Tarkwa Mine, arguing Ghana should reclaim ownership of the asset. The Ghana Chamber of Mines, however, warned that public pressure over the renewal risks damaging legal certainty and Ghana's reputation as a mining investment destination.