Bawumia Warns—Goldbod Has Started Losing, And Worse Is Coming If Sammy Gyamfi Does Not Change Course

Dr. Mahamudu Bawumia has spoken. And his words are heavy.

The NPP Flagbearer says the Goldbod, led by Sammy Gyamfi, will suffer more losses for deviating from the NPP Gold for Reserve Program plan. He says it is just the beginning. Let us see what happens.

And Ghanaians should listen, because Bawumia is the father of this idea.

It was Bawumia who brought the Gold for Reserves idea in 2021. The plan was simple and clear: Buy gold from our own miners. Keep the gold in our reserves at the Bank of Ghana. Use it to protect the cedi. Do not sell it anyhow. Do not trade it like market woman’s tomatoes. Keep it. Store it. Build our strength.

That plan worked. It helped stabilise the cedi. It helped build our reserves. It gave Ghana respect.

But what has Goldbod done? They changed the plan. They turned a reserve-building program into a trading business. They started buying and selling gold anyhow. And now, look at the result.

The IMFitself, in its August 2026 report, said the Domestic Gold Purchase Programme recorded losses of more than $1.7 billion in 2025. That is about 1.5% of Ghana’s whole GDP. That is about 17% of the value of the gold sold. That is GH¢22 billion gone.

$1.7 billion! That money could build roads. It could build hospitals. It could pay nurses and teachers. It could help market women. But it is gone because somebody decided to abandon Bawumia’s original plan.

Sammy Gyamfi says Goldbod has not made losses. He says his books show a surplus of GH¢900 million operationally and GH¢5.4 billion overall. He says the IMF blamed the Bank of Ghana, not Goldbod.

But Bawumia is asking a simple question: If you followed our plan, why is there a $1.7 billion loss at all?

Bawumia says: “If they had followed the way that we had wanted to do the Gold for Reserves programme in terms of accumulating reserves, those losses would not have been made.”

That is the truth. When you leave the right road, you will enter bush. When you leave a good plan, you will meet losses.

Gold is not for quick trading. Gold is for keeping. Gold is for reserve. Gold is for future. When you start treating our national gold like you are doing forex business in the market, you will lose.

And Bawumia is warning: This is just the beginning. If Goldbod continues on this wrong road, more losses will come. Bigger losses will come. Ghanaians will pay for it.

Sammy Gyamfi should humble himself and go back to the original plan. He should stop the trading game. He should stop the explanations. He should listen to the man who created the program.

Because Ghana’s gold is not Sammy Gyamfi’s personal business. It is the people’s gold. It is our future. It is our children’s future.

Bawumia has warned. Let us see what happens next.

But one thing is clear: If you deviate from a good plan, you must prepare to suffer losses.

Holymedia feedback-opera-news-app@opera.com