… He defended the integrity of the audited accounts prepared by KPMG and argued that unrealised valuation changes captured under OCI should not be treated as operating losses. …
KON, Sammy Gyamfi Lock Horns Over BoG ReportGhana Minute.
Tuesday, 12 May 2026
Ghana’s news, on the hour · Est. 2026
Tuesday, 12 May 2026
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Ghanaian press · Organization
KPMG
KPMG — auditors who recommended Bank of Ghana accelerate financial sector reforms and enhance reporting clarity regarding negative equity.
In coverage
Verbatim sentences from the source article.
- May 2026
… He also referred to observations by audit firm KPMG, arguing that the Bank’s recent accounts appear to have been prepared using internal accounting standards instead of fully applying International Financial Reporting Standards. …
Oppong Nkrumah criticises Sammy Gyamfi’s comments on BoG losses… The BoG’s auditors, KPMG, have issued an unqualified audit opinion and the Directors have confirmed policy solvency. …
Borrowed calm: The structural risks behind the macroeconomic recovery… The external auditor, KPMG, noted that the statements were prepared using the Bank’s own accounting policies rather than full International Financial Reporting Standards (IFRS). …
Bad Policy Decisions Partly Contributed To GH¢44bn BoG Loss -Minority… The auditors, KPMG, in their commentary on the Bank’s 2025 financial statements, recommended that the BoG clearly explained the basis for preparing its accounts, particularly as the law governing the Bank permitted the use of accounting practices that differ from international st …
Auditors advise BoG to fast-track reforms, improve clarity in reporting… It explained that the auditors, KPMG, issued an unmodified opinion on the accounts and that the reference to an “Emphasis of Matter” did not indicate any wrongdoing or qualification. …
BoG rejects Minority claims on 2025 accounts, cites misinterpretation of audited statements… The report, which synthesises forecasts from the International Monetary Fund (IMF), World Bank, Ghana Statistical Service (GSS), Deloitte, PwC and KPMG, arrives as the country navigates the final phase of its three-year IMF Extended Credit Facility programme… now extended to mid- …
Economy set for consolidation phase – CCIF report… The Bank obtained a one-month extension, partly on the grounds that it had changed auditors – from Deloitte to KPMG – who needed time to come to terms with the books. …
Bank of Ghana Balances on a Knife Edge… The Bank obtained a one-month extension, partly on the grounds that it had changed auditors – from Deloitte to KPMG – who needed time to come to terms with the books. …
Bank of Ghana Balances on a Knife Edge… Auditor’s position on negative equity KPMG, the auditors, maintained that the Bank remains operational despite the losses. …
BoG posts GH¢15.6bn operational loss as cost of monetary interventions surges
Politics
NPP, NDC dispute Bank of Ghana loss interpretation
The News
The opposition NPP and governing NDC are locked in dispute over the 2025 Bank of Ghana audited financial statements, with disagreement over whether losses should be counted as GH¢15.6 billion (the operating loss, as the government maintains) or GH¢34.9 billion (combining the operating loss with GH¢19.32 billion in Other Comprehensive Income, as the Minority argues).
Why it matters
The opposition and government are in public dispute over how to interpret Bank of Ghana losses—a major economic story with direct fiscal implications for Ghana's financial credibility.
22 hours ago · The Chronicle →
Yesterday
NPP, NDC dispute Bank of Ghana loss interpretation
The opposition NPP and governing NDC are locked in dispute over the 2025 Bank of Ghana audited financial statements, with disagreement over whether losses should be counted as GH¢15.6 billion (the operating loss, as the government maintains) or GH¢34.9 billion (combining the operating loss with GH¢19.32 billion in Other Comprehensive Income, as the Minority argues).
22 hours ago · The Chronicle →
Oppong Nkrumah disputes Gyamfi's account of BoG losses
Ofoase Ayirebi MP Kojo Oppong Nkrumah has criticised Sammy Gyamfi's comments on Bank of Ghana financial losses, arguing that the central bank's net equity declined by GH¢34.9 billion, not the GH¢15 billion figure Gyamfi highlighted. Oppong Nkrumah contends that separating the Bank's operating loss from its total comprehensive loss does not alter the overall impact on the country's finances.
11 May 2026 · Joy Online →
Friday 8 May
Ghana's macroeconomic recovery rests on unsustainable fiscal foundations
Ghana's recent economic stabilization—marked by single-digit inflation, cedi appreciation, and rebuilt reserves—represents "borrowed calm" financed by instruments and commitments whose sustainability is questionable, according to an analysis that questions whether the recovery is durable despite acknowledging genuine improvements since the 2022–2023 crisis.
8 May 2026 · Business & Financial Times →
Monday 4 May
Minority says BoG policy worsened losses to GH¢44 billion
The Minority Caucus in Parliament released an analysis of the Bank of Ghana's 2025 audited financial statements, arguing that bad policy decisions significantly worsened the central bank's financial position, partly contributing to an estimated underlying loss of about GH¢44 billion. Although the BoG officially reported a headline loss of GH¢15.6 billion, the Minority argues this figure understates the true economic cost when additional losses in Other Comprehensive Income and one-off gains from gold sales are adjusted for.
4 May 2026 · The Chronicle →
KPMG urges BoG to accelerate reforms, improve financial reporting clarity
KPMG auditors have recommended that the Bank of Ghana fast-track financial sector reforms and enhance clarity in its financial reporting to strengthen transparency and public confidence. They also called for greater caution in managing credit risks and urged the Bank and Government to adhere to agreed recapitalization roadmaps while maintaining transparency about the BoG's negative equity position.
4 May 2026 · Joy Online →
Bank of Ghana rejects Minority's criticism of 2025 audited accounts
The Bank of Ghana has rejected claims by the NPP Minority Caucus about its 2025 audited accounts, describing them as misleading and a misinterpretation of reserve management. The BoG stated that the GH¢9.6 billion gain from gold sales was legitimate and standard practice for central banks, and that removing this gain to construct a deficit was artificial and inconsistent with accounting frameworks.
4 May 2026 · Joy Online →
Ghana's economy projected to grow 4.6–5.9% in 2026
A new report by the Chamber of Commerce and Industry France and Ipsos forecasts Ghana's real GDP growth between 4.6 and 5.9 percent by year-end 2026, as the economy shifts from crisis management toward stabilization and recovery. The forecast depends on fiscal discipline and completion of debt-restructuring efforts, with inflation expected to stabilize within a 6 to 10 percent target band.
4 May 2026 · Business & Financial Times →
Sunday 3 May
Bank of Ghana records $1.25 billion net loss in 2025
The Bank of Ghana published audited 2025 financial statements on 1 May 2026, showing a net loss of $1.25 billion and total comprehensive losses of $2.80 billion; cumulative negative equity reached approximately $9 billion, widening from $3.99 billion the previous year.
3 May 2026 · Joy Online →
Bank of Ghana reports $1.25 billion net loss for 2025
The Bank of Ghana published its audited 2025 financial statements on 1 May, revealing a net loss of $1.25 billion and total comprehensive losses of $2.80 billion, with cumulative negative equity reaching approximately $9 billion, widening from $3.99 billion a year earlier.
3 May 2026 · Joy Online →
Friday 1 May
Bank of Ghana posts GH¢15.6bn operational loss in 2025
The Bank of Ghana's operating loss for 2025 reached GH¢15.6 billion, up from GH¢9.4 billion in 2024, driven by surging costs of monetary policy operations including Open Market Operations that rose 95% to GH¢16.7 billion, sterilisation liabilities that jumped 186%, and a GH¢23.6 billion revaluation loss triggered by cedi appreciation. Negative equity worsened to GH¢93.82 billion from GH¢58.62 billion, while the Domestic Debt Exchange Programme reduced returns on government securities by an estimated GH¢12 billion.
1 May 2026 · Joy Online →