NPP demands publication of foreign gold buyers, contracts and discounts

The opposition New Patriotic Party (NPP) has demanded that the identities of foreign companies purchasing Ghana's gold, as well as the contracts, discounts and commercial terms governing the transactions, be made public. Dr Mohammed Amin Adam, a member of the NPP's Policy Coordinating Committee on Finance and Economy and former Finance Minister, made the request during a press conference on Tuesday, September 1.

The NPP believes that disclosing this information would help Ghanaians evaluate how the country's gold is being sold and whether the transactions provide value for money. Dr Amin Adam argued that the discounts offered under the gold purchase programme have contributed to financial losses associated with the operations. He expressed concern about plans to allow foreign buyers to pre-finance gold purchases, stating that this could give companies greater influence over the prices and terms of the transactions.

The NPP also questioned whether the government would guarantee the new financing arrangement and demanded that the legal authority under which any guarantee would be provided be disclosed. The party requested the publication of the agreement governing the transfer of about GH¢133 billion in central bank funds through GoldBod and the reconciliation of financial figures associated with the gold operations by the Bank of Ghana, GoldBod and the Ministry of Finance.