… Regarding disruptions to Ghana’s gold exports due to the Middle East crisis, the Governor disclosed that temporary challenges affecting shipments to the United Arab Emirates had been resolved through alternative export arrangements. “The Gold Board has been able to find a way aro …
… Regarding concerns over disruptions to Ghana’s gold exports linked to the Middle East crisis, Dr Asiamah said temporary challenges affecting shipments to the United Arab Emirates had been resolved through alternative arrangements. “The Gold Board has been able to find a way aroun …
… Regarding disruptions to Ghana’s gold exports due to the Middle East crisis, the Governor disclosed that temporary challenges affecting shipments to the United Arab Emirates had been resolved through alternative export arrangements. “The Gold Board has been able to find a way aro …
… The lawmaker also raised concerns about changes in Ghana’s gold purchasing framework, claiming that costs associated with the policy shift from large-scale mining purchases to the Gold Board system had impacted the central bank’s finances. …
President John Dramani Mahama has directed state-owned enterprises and public institutions to recruit and promote staff strictly on merit, warning that political connections, personal relationships and proximity to power must not substitute for competence, integrity and performance. He also warned boards and managements against conflicts of interest, abuse of office and wasteful expenditure, directing that procurement be lawful and competitive.
President John Dramani Mahama has directed state-owned enterprises and public institutions to recruit and promote staff strictly on merit, warning that political connections, personal relationships and proximity to power must not substitute for competence, integrity and performance. He also warned boards and managements against conflicts of interest, abuse of office and wasteful expenditure, directing that procurement be lawful and competitive.
President Mahama told Ghana's state-owned enterprises that they must convert financial gains into lasting operational efficiency and demonstrate credible evidence of value created for citizens, stressing that public ownership must produce public value and that persistent losses can no longer be quietly transferred to the national budget.
Incoming Majority Leader James Agalga has contested claims that the Gold Board incurred losses under its domestic gold purchasing operations, stating instead that it recorded a surplus of around 4 billion plus and is cited in the Auditor-General's report. The statement comes as Parliament's Minority pushes for an ad hoc committee investigation into what it says are losses from the government's gold trading scheme.
Minority Leader Alexander Afenyo-Markin told Parliament that residents of mining communities across Ghana are suffering kidney failure, lung failure, and other grave conditions at alarming rates due to pollution from illegal mining, while the Gold Board cannot account for GH¢22 billion.
Economist Professor Godfred Bokpin warned that Ghana is sacrificing long-term survival for short-term economic gains through over-reliance on gold, and that a sharp fall in global gold prices could wipe out macroeconomic stability gains within months while environmental damage from mining is being overlooked.
Minority Leader Alexander Afenyo-Markin has criticised the 2026 Mid-Year Budget Review as "uninspiring" and lacking concrete policy interventions, taking issue with the Finance Minister's comments about government spending and funding to ministries.
The Gold Board reports it purchased 50–54 metric tons of gold from artisanal and small-scale mining in the first half of 2026 and expects the sector's annual output to match or surpass last year's record 104 metric tons. ASM has become Ghana's largest source of gold export earnings, generating nearly $11 billion in foreign exchange in 2025.
Government has agreed with large-scale mining companies to purchase 30% of their gold output starting July 1 to boost foreign currency reserves and develop local refining capacity. Gold will be sold to state entity GoldBod in dore form at a 0.55% discount to the central bank's reference rate and settled in Ghanaian cedis.
Deputy Finance Minister Thomas Ampem Nyarko told Parliament that from January 2025 to May 2026, the Gold Board spent approximately US$16.1 billion on gold purchases, with US$9.8 billion expended in 2025. The government is shifting Ghana's gold economy from an unregulated system to a structured, transparent one where gold is properly accounted for and benefits the national economy.
Ghana's Securities and Exchange Commission is laying regulatory groundwork to licence independent custodians for gold-backed tokens under the Virtual Assets Service Providers Act, with plans to extend tokenisation to real estate, diamonds, and bauxite. The regulator is building a post-custody framework requiring vault operators to undergo inspections before holding physical gold underpinning digital tokens.
The Governor of the Bank of Ghana has defended the Monetary Policy Committee's decision to hold the policy rate at 14%, citing ongoing Middle East conflict as a key source of uncertainty threatening Ghana's inflation outlook and economic stability. Although economic indicators suggest room for further rate cuts, the MPC chose to pause and monitor global developments due to risks posed by the geopolitical crisis.
The Monetary Policy Committee maintained the policy rate at 14 percent, with the Bank of Ghana Governor citing the Middle East conflict as an external risk that could undermine Ghana's inflation outlook despite improving domestic economic indicators.
The Governor of the Bank of Ghana defended the Monetary Policy Committee's decision to maintain the policy rate at 14 percent, citing lingering geopolitical tensions in the Middle East as a serious risk to Ghana's inflation outlook and economic stability. Although current economic indicators suggest room for further monetary easing, the MPC decided to pause and monitor global developments because of uncertainties surrounding the Middle East crisis.
The Ranking Member on Parliament's Finance Committee has responded to Minority accusations that the Bank of Ghana recorded losses of about GH¢44 million under the NDC administration, arguing that the NPP government previously recorded far larger losses of GH¢55 billion at the central bank.
The Ghana Chamber of Mines has called on the Bank of Ghana to publish detailed, disaggregated data on foreign exchange inflows from mining, arguing that partial data excluding flows through commercial banks misrepresents the industry's economic contribution. The chamber disputes claims that large-scale miners repatriate only 20 percent of export proceeds, noting that mining firms channel forex through both direct central bank sales and commercial bank accounts to meet domestic obligations.
The Minority in Parliament has accused the Majority of attempting to shift public perception ahead of the Bank of Ghana's publication of financial accounts, which are expected to show a net loss of about GH¢15 billion for the 2025 financial year. The Ranking Member on Parliament's Economy and Development Committee argued the Majority's press conference before the official release is intended to hide the real facts from Ghanaians.