General News
Minority Insists GoldBod Must Account for GH¢22bn Reported Loss
The Minority Caucus in Parliament has maintained that the Ghana Gold Board (GoldBod) must account for a reported GH¢22 billion financial loss linked to the Domestic Gold Purchase Programme (DGPP) in 2025.
In a statement issued on Wednesday, August 19, 2026, and signed by Minority Leader Osahen Alexander Afenyo-Markin, the Caucus said GoldBod Chief Executive Officer Sammy Gyamfi’s response to concerns raised over the programme had not adequately addressed the financial issues at stake.
The Minority’s statement followed a press conference it held on Tuesday, August 18, on the financial and operational performance of GoldBod and reported losses associated with the Domestic Gold Purchase Programme.
The Caucus said its assessment was based on the International Monetary Fund’s findings on the programme. The IMF’s 2026 report discusses the Domestic Gold Purchase Programme and GoldBod’s evolving role in Ghana’s gold sector.
The Minority argued that Mr Gyamfi had not disputed the IMF’s reported finding of a US$1.7 billion loss under the Domestic Gold Purchase Programme in 2025.
“First, the loss is admitted,” the statement said, adding that the Chief Executive had not disputed the IMF’s finding but had instead sought to determine which institution or officials should be blamed.
According to the Caucus, regardless of which state institution’s balance sheet carries the loss, the financial impact ultimately concerns public funds.
The Minority therefore insisted that the reported loss, estimated at approximately GH¢22 billion, must be properly accounted for.
The Caucus also challenged GoldBod’s explanation of the fees it earned from the programme.
According to the statement, Mr Gyamfi indicated that GoldBod accounted for approximately GH¢133 billion in advances in 2025 and received an assay fee of 0.25 per cent and a service fee of 0.5 per cent.
Based on those figures, the Minority calculated that GoldBod earned about GH¢1 billion in fees from the programme.
The Caucus contrasted that figure with GoldBod’s reported operational surplus of approximately GH¢907 million.
It argued that once the agency fees collected from the programme are separated from GoldBod’s other operations, there would be little or no operational surplus attributable to the programme itself.
“The plain implication of his own numbers is that the operational surplus he is celebrating is smaller than the fee income he collected from a programme that lost the state 22 billion Ghana Cedis,” the statement said.
The Minority consequently called on the GoldBod CEO to provide a clearer explanation of the relationship between the fees earned and the reported financial loss.
The Caucus further accused Mr Gyamfi of taking credit for positive economic developments while distancing GoldBod from the reported downside associated with the programme.
It pointed to improvements in Ghana’s debt-to-GDP position, the increase in international reserves from about US$8.9 billion to US$11.3 billion, and the decline in inflation.
The Minority said GoldBod had been “foremost in taking public credit” for some of these outcomes.
It argued that an institution that claims responsibility for the benefits associated with a policy should also be prepared to accept responsibility for costs arising from the same policy.
The Minority also raised concerns about what it described as shifting arrangements for financing the Ghana Reserves Accumulation and National Assets Protection (GANRAP) programme.
According to the statement, Mr Gyamfi indicated that responsibility for the implementation cost of GANRAP moved from the Bank of Ghana to the Ministry of Finance in July 2026.
The Caucus said GoldBod was subsequently seeking to raise funds independently from August 2026.
It described the movement between three different funding arrangements within six months as evidence that the financing model had not yet been settled.
“Three funding arrangements in six months is not a settled model,” the Minority stated.
The IMF has previously noted that GoldBod’s operational model was significantly expanded from April 2026, with the institution taking over the Bank of Ghana’s role in the Domestic Gold Purchase Programme and handling financing, purchasing, assaying and exporting artisanal gold. From July 1, 2026, the government was to cover operating costs related to gold purchases, with costs subject to a 5 per cent ceiling of the overall cost of gold purchased.
The Minority concluded that the reported GH¢22 billion loss, which it said was contained in the IMF’s Sixth Country Report, must be accounted for.
The Caucus specifically referenced IMF Country Report No. 26/213, issued in August 2026, and maintained that the reported amount represented a financial loss to the Republic of Ghana.
The statement said the issue should not be dismissed simply because the loss appeared on the books of another state institution.
The IMF’s July 2026 assessment confirms that the Domestic Gold Purchase Programme had created a temporary breach of a Bank of Ghana performance criterion because of cost-sharing arrangements, while also noting Ghana’s broader improvements in reserves and macroeconomic stability.
The Minority Leader also criticised the tone adopted by the GoldBod CEO during his response to the Minority’s allegations.
Mr Gyamfi had reportedly used a reference to a “brothel” while dismissing the Minority’s criticisms during the Government Accountability Series.
Mr Afenyo-Markin described the remark as inappropriate for a public official responding to questions about the management of public funds.
“The Chief Executive’s reference to a brothel does not belong in a statement issued by a Public Officer accounting for public funds,” the Minority Leader said.
He added that Ghanaians were demanding financial figures and explanations rather than insults.
“Ghanaians asked for figures. They were given insults. The figures are still outstanding,” he stated.
The dispute comes amid competing interpretations of the financial figures. While the Minority has focused on the reported US$1.7 billion loss associated with the Domestic Gold Purchase Programme, the Institute of Fiscal Policy Governance has argued that GoldBod’s own audited accounts show a GH¢5.44 billion surplus for 2025 rather than a GH¢22 billion loss.
The controversy therefore centres partly on whether the reported losses under the Bank of Ghana’s Domestic Gold Purchase Programme should be treated as losses incurred by GoldBod itself or as financial consequences of a programme implemented through GoldBod on behalf of the central bank.
The Minority, however, maintains that GoldBod cannot distance itself from the financial consequences of transactions it operationally managed and is demanding full accountability for the reported loss.

General News
GTA Regional Directors Raise Concerns Over CEO Maame Efua Houadjeto’s Leadership
Fourteen Regional Directors of the Ghana Tourism Authority (GTA) have raised concerns about the leadership approach of the Authority’s Chief Executive Officer, Maame Efua Houadjeto, during a meeting with the Board of Directors to address what they describe as persistent organisational challenges.
The meeting, held on Monday, October 12, 2026, at 3:00 p.m., was convened to discuss issues the Regional Directors say have remained unresolved since July 2026.
According to the Directors, the engagement was not intended to serve as an arbitration process but rather to obtain responses to questions and concerns they had previously raised.
During the meeting, the Directors expressed their displeasure with the CEO’s leadership approach, highlighting concerns about stakeholder engagement, regional coordination and other issues they believe are affecting the effective operation of the Authority.
They indicated that the concerns extend beyond individual disagreements and touch on broader institutional matters that require attention to ensure the smooth functioning of the GTA.
The Directors maintained that their position was motivated by the need to safeguard the integrity of the institution and restore effective operations across its regional structures.
They also called on the Board of Directors to facilitate a formal response from the Office of the CEO to the issues raised, stressing the need for the concerns to be addressed through the appropriate institutional channels.
The engagement provided an opportunity for the Regional Directors to formally communicate their grievances to the Board and seek its intervention in resolving the outstanding matters.
The meeting ended with a call for further intervention by the Board of Directors to ensure that the issues raised receive the necessary attention and responses.
It remains unclear what specific questions have been pending since July, what responses the Regional Directors expect from the CEO, or what steps the Board intends to take following the meeting.
The outcome of any subsequent engagement between the Board, the CEO and the Regional Directors is expected to be important in determining how the concerns will be addressed and how coordination within the Authority will be strengthened.
General News
Gamal Gorkeh Nkrumah, Son of Ghana’s First President, Dies in Cairo
Gamal Gorkeh Nkrumah, son of Ghana’s founding President, Osagyefo Dr Kwame Nkrumah, has died in Cairo, Egypt, following a prolonged illness.
The Nkrumah family announced his death in a statement posted on the Facebook page of Samia Nkrumah, daughter of Ghana’s first president.
According to the statement, Gamal passed away peacefully in Cairo, where he had been receiving care at a rehabilitation centre after suffering a stroke.
The family described him as a beloved son, respected journalist, writer and intellectual who dedicated much of his life to examining the political, social and cultural developments shaping Africa and the wider world.
It said Gamal remained deeply committed to the ideals of justice, human dignity, African unity and international solidarity throughout his life.
As a journalist and commentator, he used his voice and intellect to analyse issues affecting Africa and the international community, earning recognition among friends, colleagues and readers who valued his insights and perspectives.
The family further described him as a man of profound intellectual curiosity, independent thought and quiet conviction, noting that he carried forward his father’s legacy in his own distinctive way while building a reputation based on his personal principles and achievements.
His death, the family said, represents a significant loss not only to his relatives and loved ones but also to the wider community of people who appreciated his work, humanity and engagement with important issues of his time.
The statement added that the family remembers Gamal with immense love, gratitude and pride, describing his wisdom, kindness and commitment to his values as an enduring source of inspiration.
The Nkrumah family also expressed appreciation to those who supported Gamal throughout his illness, particularly the medical professionals and caregivers in Cairo who provided him with treatment and care.
It extended its gratitude to the governments and people of both Egypt and Ghana for their support during the difficult period.
The family has appealed to the public to respect its privacy as it mourns the loss.
Details of memorial arrangements and opportunities for the public to pay tribute to Gamal Gorkeh Nkrumah’s life and legacy, according to the statement, will be communicated in due course.
General News
FOUR PROFESSORS SUE TO HALT GIMPA RECTOR SEARCH PROCESS AMID CONTROVERSY
Four professors at the Ghana Institute of Management and Public Administration (GIMPA) have filed a lawsuit seeking to halt aspects of the process to select a search committee for the appointment of a new Rector, escalating tensions over the institution’s leadership transition.
The plaintiffs are Professors Lord Mawuko Yevugah, Wisdom Akpalu, Kwami Adanu and Patrick Tandoh-Offin. They filed the action on October 5, 2026, challenging aspects of the process involving the Chairman of GIMPA’s Governing Council, the Institute’s Secretary and the Rector.
At the centre of the dispute is the Convocation register used to determine who could vote for representatives on the Rector Search Committee. The professors contend that about 30 newly appointed or promoted lecturers were included on the register despite questions over whether their appointments had received the necessary approval from the Governing Council.
They argue that allowing the lecturers to participate in the election could undermine the legitimacy of the process and have asked the court to ensure that the selection of the search committee complies with GIMPA’s 2020 Statutes. They also want the committee’s composition and the respective roles of the Governing Council and Convocation clarified.
GIMPA management, however, has indicated that a special ad hoc committee audited the Convocation register and confirmed that those listed had valid appointments, based on Human Resource Management records. Exceptions reportedly applied to staff on leave of absence or secondment.
The Convocation election proceeded on October 6. According to reports, Professor Patrick Tandoh-Offin contested to represent the professorial class but lost to Professor Emmanuel Gyamfi Numapau, who received 118 votes against Tandoh-Offin’s 35.
The legal challenge comes as GIMPA prepares for the end of Rector Professor Samuel Kwaku Bonsu’s tenure in August 2027. The Institute’s statutes require the search process to begin ahead of the incumbent’s departure.
The case raises questions about voting eligibility, institutional governance and the procedures for selecting the next Rector. The court’s determination could affect the process, although the available reports do not establish that an injunction has been granted or that the election
General News
EPA ORDERS IMMEDIATE HALT TO UNAPPROVED RECLAMATION WORKS NATIONWIDE — GOVERNMENT AGENCIES, CONTRACTORS ON NOTICE
The Environmental Protection Authority (EPA) has ordered an immediate halt to all land reclamation, mine-site rehabilitation, dredging and water-body restoration activities being undertaken without the requisite environmental permits across Ghana.
In a public notice issued on Wednesday, October 14, 2026, the Authority warned that institutions, companies, contractors and individuals operating without its approval must cease work immediately and report to the nearest EPA regional office or its head office for regulatory assessment.
The directive applies to both public and private projects, including government-sponsored, privately funded and donor-supported initiatives. The EPA specifically mentioned the Ministry of Lands and Natural Resources, Forestry Commission, Ghana Gold Board (GoldBod), Minerals Commission and Mineral Development Fund among the institutions required to ensure compliance.
Under Regulation 40 of the Environmental Protection (Environmental Assessment) Regulations, 2025 (L.I. 2504), reclamation and restoration activities fall within Ghana’s environmental assessment and permitting framework.
The covered activities include rehabilitating abandoned mining sites, backfilling excavated areas, restoring degraded land, revegetation, dredging and desilting rivers, modifying river channels and restoring polluted water bodies, wetlands and aquatic ecosystems.
The Authority stressed that securing a contract, obtaining funding approval, holding a mining lease or receiving authorisation from another public institution does not replace an EPA Environmental Permit. Similarly, consent from traditional authorities, memoranda of understanding and participation in government programmes cannot substitute for the required approval.
Contracting institutions have also been directed to verify the environmental permit status of projects before allowing contractors to mobilise to their sites.
The EPA acknowledged the importance of restoring lands and water bodies damaged by illegal and irresponsible mining but cautioned that rehabilitation efforts must not create further environmental destruction by bypassing regulatory safeguards.
It warned that individuals and institutions that continue unapproved operations after the notice would face action in accordance with applicable Ghanaian laws.
The directive reinforces the Authority’s position that environmental restoration, regardless of its funding source or purpose, must comply with the country’s permitting requirements.
General News
North Korea and China Open Long-Delayed Bridge
The opening of the long-awaited New Yalu River Bridge marks a significant step towards strengthening cross-border transport and trade between China and North Korea.
China and North Korea have officially opened a major bridge linking the two countries, ending a 12-year delay that kept the infrastructure project unused despite its completion in 2014.
The New Yalu River Bridge connects the Chinese border city of Dandong, in Liaoning province, with Sinuiju in North Korea. The four-lane crossing stretches approximately three kilometres across the Yalu River and is expected to improve the movement of goods between the neighbouring countries.
The project was originally intended to begin operating in 2014. However, the opening was postponed for years as infrastructure on the North Korean side, including connecting roads and customs facilities, remained incomplete. Analysts have also pointed to strained bilateral relations and disagreements surrounding economic cooperation as possible contributing factors.
Trade and economic implications
The new crossing is expected to ease pressure on the older China–North Korea Friendship Bridge, which has served as a major route for official trade between the two countries.
By providing additional road capacity, the new bridge could improve freight transportation, reduce congestion and support the movement of essential goods. Its strategic location is particularly important because China remains North Korea’s principal trading partner.
Nevertheless, the opening does not automatically guarantee a rapid increase in trade. International sanctions imposed in response to North Korea’s nuclear and weapons programmes continue to constrain economic activity, while the scale of future commercial traffic will depend on border arrangements and the two governments’ economic policies.
A signal of closer bilateral engagement
The bridge’s inauguration comes amid renewed diplomatic engagement between Beijing and Pyongyang. It also highlights China’s continued economic importance to North Korea as the latter seeks to maintain relationships with key regional partners.
For China, improved transport links could facilitate cross-border commerce and support economic activity in Dandong. For North Korea, the bridge offers additional capacity for importing goods and developing commercial infrastructure around Sinuiju.
However, the project’s long delay illustrates how political disagreements and economic considerations can obstruct infrastructure intended to improve regional connectivity.
What happens next?
Attention will now turn to how quickly the bridge becomes an established route for commercial traffic and whether the additional capacity translates into measurable growth in bilateral trade.
While the opening represents an important infrastructure milestone, its longer-term economic and diplomatic impact will depend on the willingness of both governments to sustain cooperation and the restrictions governing North Korea’s international trade.
The opening ends a lengthy wait for the two countries, but the bridge’s ultimate significance will be measured by the trade and cooperation it enables in the years ahead.
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