Sammy Gyamfi, Chief Executive Officer of Ghana’s state gold trading agency GOLDBOD, announced on Monday that he will publicly respond to allegations of losses under the Gold-for-Reserves (G4R) programme on 5 January 2026.
The announcement comes after the Minority Caucus in Parliament raised concerns that the initiative could result in nearly $300 million in losses, highlighting IMF figures indicating a $214 million shortfall over the first nine months of the year.
In a statement shared on social media, Gyamfi said his forthcoming response will clarify the reported figures and provide broader context on the programme’s performance. “As I have already served notice, I will, effective Monday, January 5, 2026, be responding and clarifying issues surrounding the IMF’s reported loss of $214 million,” he wrote.
The G4R programme, jointly implemented by the Bank of Ghana and GOLDBOD — formerly the Precious Minerals Marketing Company — was established to strengthen Ghana’s foreign reserves and stabilise the cedi amid economic pressures.
The Minority Caucus has expressed concern over what it calls mismanagement by GOLDBOD and warned that losses could reach nearly $300 million by the end of the year. Gyamfi said the preliminary figures he released were intended to counter what he described as incomplete reporting.
His statement is expected to provide clarity and help ease public debate over Ghana’s gold reserves management and the broader economic recovery agenda.
