The Member of Parliament for Manso Nkwanta, Tweneboah Fokuo, has cast doubt on the Ghana Gold Board’s (GoldBod) reported performance, describing the touted achievements as exaggerated and lacking transparent evidence.
His comments follow recent claims by the Board that it has crossed the $5 billion mark in gold export value for the first half of 2025, a figure that surpasses the entire export value for 2024, which stood at $4.6 billion.
According to Mr. Fokuo, the timeline for these achievements is simply too short to warrant the level of praise being attributed to the GoldBod.
“The impact of GoldBod is being overblown. It has been around for about three months. You mean in three months they’ve done so much as they claim? They should show it. They should show it in terms of figures.”
Mr. Fokuo questioned the basis of the performance claims and called for detailed disclosures to back the numbers, arguing that while the figures may appear impressive on the surface, the Board is yet to prove the direct impact of its policies within such a limited operational period.
The Ghana Gold Board was restructured and granted expanded powers under the Ghana Gold Board Act, 2025 (Act 1140), with a renewed mandate to formalise, regulate, and monitor gold exports.
On Tuesday, July 1, GoldBod Chief Executive Officer, Sammy Gyamfi held a press briefing in Accra to announce the $5 billion milestone. He credited the increase to tighter regulatory oversight, stronger compliance from licensed exporters, and a streamlined licensing regime rolled out under the new Act.
Mr. Gyamfi also revealed that the country is on track to reach a 60-tonne gold export target by the end of July 2025, attributing the growth to reforms aimed at curbing smuggling and improving transparency in the sector.