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Abena Osei-Asare urges Mahama to investigate GOLDBOD’s reported $1.7bn loss
August 11, 2026
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Abena Osei-Asare urges Mahama to investigate GOLDBOD’s reported $1.7bn loss

Money
Policy
Opportunity
Growth

Key Points

  • Former Minister of State for Finance Abena Osei-Asare has called on President Mahama to investigate reported $1.7 billion losses at the Ghana Gold Board (GoldBod).
  • Osei-Asare, who chairs Parliament's Public Accounts Committee, stated the International Monetary Fund attributed these losses to GoldBod, warranting detailed scrutiny.
  • She highlighted the opportunity cost, claiming GH¢6 billion of the reported loss could have been used to recruit unemployed nurses, impacting the health sector.
  • The MP urged President Mahama to fulfill his commitment to review and address underperforming state-owned enterprises, including potentially merging or closing them.
  • While expressing temporary relief that Bank of Ghana financing for GoldBod will cease by July 1, 2026, she emphasized the need for further action to ensure accountability for public funds.

Why This Matters

The reported $1.7 billion loss at GoldBod signifies a substantial mismanagement of public funds, directly impacting Ghana's financial stability and development potential. This issue raises critical questions about government accountability, the efficiency of state-owned enterprises, and the prudent use of national resources, which could otherwise be channeled into vital sectors like healthcare. An investigation is crucial for transparency, fiscal responsibility, and maintaining public trust in the management of Ghana's valuable gold assets.

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Why celebrate $2.62bn FDI while losing $1.7bn under the Domestic Gold Programme? IERPP asks
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