Parliament will determine whether GoldBod's $1.7 billion is a loss or cost - Speaker Bagbin
Speaker of Parliament, Alban Bagbin, has indicated that Parliament will scrutinise the reported $1.7 billion financial impact associated with the Ghana Gold Board (GoldBod) to determine whether it constitutes an actual loss or a cost incurred under the Domestic Gold Purchase Programme (DGPP).
Speaking in Parliament on Monday, August 24, 2026, Bagbin said he had personally reviewed a motion filed by the Minority seeking parliamentary scrutiny of the matter.
“I have gone through the motion filed by the Minority on August 21, 2026. I intend to admit it because we need an end to litigation. Whether it is a loss or cost, this House will go through it,” he stated.
His comments come amid an escalating dispute between the government and the Minority over the financial implications of the DGPP.
The Minority has cited an International Monetary Fund (IMF) assessment in its claim that the programme recorded losses of more than $1.7 billion in 2025.
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GoldBod Chief Executive Officer Sammy Gyamfi has rejected the characterisation of the figure as a loss, arguing that the programme has generated profits.
The controversy has also prompted calls for a broader assessment of the programme, with some economists arguing that transaction costs, tax concessions and other incentives should be considered alongside the benefits of the initiative.
Bagbin said Parliament’s consideration of the Minority’s motion would provide an opportunity for the House to examine the competing claims and establish the true nature and implications of the reported $1.7 billion figure.
However, he indicated that although he intends to admit the motion, it would not be debated during the ongoing emergency sitting because the House was recalled for specific business.
MRA/VPO
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