GoldBod terminates US$1 billion Goldstream deal – APL discloses

The Ghana Gold Board (GoldBod) has quietly terminated its much-hyped US$1 billion deal with Goldstream Global DMCC, citing non-performance nearly a year after the deal was announced, according to a report by the Africa Policy Lens.

The Africa Policy Lens (APL) has revealed that GoldBod, in a response to a Right to Information (RTI) request, confirmed the termination but failed to provide details.

The MoU, signed on August 22, 2025, was meant to attract US$1 billion to develop over 300 responsible small-scale mines.

It was unveiled by the GoldBod CEO, Sammy Gyamfi, on September 9, 2025.

The Right to Information request was filed by a senior fellow at APL, Ing. Wisdom Gomashie.

GoldBod’s statement, the APL said, did not disclose when the termination happened, what obligations were breached, whether any funds were committed or whether the State incurred costs.

APL argues that this lack of transparency is dangerous for the governance of Ghana’s mineral resources.

“Commercial agreements may fail for legitimate reasons and terminating an arrangement following non-performance can be appropriate. The termination itself is not evidence of wrongdoing. Nevertheless, the public announcement of a major investment initiative should be accompanied by comparable transparency when the initiative is discontinued,” APL stated.

The policy think tank is, therefore, calling for “publication of the full executed MoU, termination notices and all associated records. A comprehensive account of due diligence undertaken before signing” and a “disclosure of any financial or operational exposure to the state”.

APL says the case raises broader questions about how public institutions vet investors, monitor performance, and communicate failure to the public. 

The think tank demands institutional reforms to require mandatory due diligence and timely disclosure for all major commercial agreements

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