Bawumia Warns GoldBod of More Losses, Says Sammy Gyamfi’s Troubles Are Just Beginning

According to a report by Kessben TV, on Saturday November 6, 2026, New Patriotic Party (NPP) flagbearer, Dr Mahamudu Bawumia, has issued a warning to the Ghana Gold Board (GoldBod), suggesting that the institution could record further financial losses following what he describes as a departure from the original Gold for Reserves programme introduced under the previous NPP administration.

Dr Bawumia, who made the remarks in a video circulating on social media, specifically pointed to the leadership of GoldBod Chief Executive Officer, Sammy Gyamfi, questioning the direction in which the institution is being managed.

According to the former Vice President, the current approach adopted by GoldBod differs from the framework and operational arrangements that guided the NPP government’s Gold for Reserves programme.

He argued that the decision to deviate from the original plan could expose the institution to additional financial challenges, warning that the consequences of the changes might become more evident in the coming months.

In his remarks, Dr Bawumia stated: “The Goldbod, led by Sammy Gyamfi, will suffer more losses for deviating from the NPP Gold for Reserve Program plan. It’s just the beginning, let’s see what happens.”

His comments suggest that the NPP flagbearer remains concerned about the management and financial implications of the current GoldBod operations.

The statement also adds another dimension to the ongoing political debate surrounding Ghana’s gold trading arrangements, particularly the role of GoldBod in managing gold purchases, exports and foreign exchange generation.

The Gold for Reserves programme was introduced under the previous NPP administration as part of efforts to strengthen Ghana’s foreign exchange reserves through gold purchases.

However, the programme and the current operations of GoldBod have attracted competing interpretations from politicians and other stakeholders, especially regarding financial performance, operational costs and the institution’s contribution to the country’s economic position.

Dr Bawumia’s latest comments are therefore expected to generate further discussion about the differences between the previous programme and the current GoldBod framework.

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