Ghana Gold Board CEO Refutes Minority Allegations of Financial Losses and Mismanagement
Lawyer Sammy Gyamfi, Chief Executive Officer of the Ghana Gold Board (GOLDBOD), has firmly denied accusations from members of the Minority Caucus in Parliament that the state-owned institution is suffering financial losses and mismanaging public funds. In a statement addressing recent claims, Gyamfi labeled the allegations as “false” and emphasized that GOLDBOD remains financially robust and committed to its mandate. He revealed that for the 2025 financial year, GOLDBOD recorded an operational surplus of GH¢909.7 million and an overall surplus of GH¢5.44 billion, figures documented in the institution’s 2025 audited annual report and financial statements prepared by the Auditor-General and published on GOLDBOD’s website. Despite a decline of over 23 percent in international gold prices since February 2026 and a reduction in pricing incentives following the scaling down of its baseline programme, GOLDBOD has continued to deliver strong results. Gyamfi noted that the institution is on track to meet its 2026 surplus target, making significant strides in gold purchases, foreign exchange generation, support for Ghana’s gold reserve accumulation, local value addition, and sustainability efforts. The CEO urged the public and media to disregard what he called “false and misleading” claims being spread by some Minority members. He specifically criticized Minority Leader Alexander Afenyo-Markin and his colleagues for making what he described as baseless allegations of losses and misappropriation of public funds. Gyamfi reaffirmed GOLDBOD’s commitment to maximizing value from Ghana’s gold resources for national benefit, stating that the institution would remain focused on delivering results and would not be distracted by politically motivated attacks. He expressed confidence that GOLDBOD’s performance and achievements would ultimately overshadow the criticisms faced by the institution. Read statement below: LAWYER SAMMY GYAMFI RESPONDS TO FALSE CLAIMS ABOUT THE GOLDBOD BY SOME ELEMENTS IN THE NPP MINORITY CAUCUS 1. It is an incontrovertible fact that the GoldBod declared an operational surplus of GHS909.7 million and an overall surplus of GHS5.44 billion for the year 2025. These facts are contained in the 2025 audited Annual Report and Financial Statements of the GoldBod prepared by the Auditor General and published on the GoldBod’s website. For evidence, see: https://goldbod.gov.gh/wp-content/uploads/2026/04/2025-Audited-Financial-Statements-Ghana-Gold-Board_compressed.pdf 2. In spite of the substantial slump in international gold prices by over 23% since February this year, the significant reduction of GoldBod’s pricing incentives due to the cutting down of baseline program implementation from about 14% to 6%, the GoldBod has remained on course in achieving remarkable successes relative to the volume of gold purchases, foreign exchange generation, support for gold reserve accumulation, local value addition, support for sustainability initiatives and the achievement of our surplus target for the 2026 financial year. 3. The media and general public are respectfully advised to treat with utmost contempt, the discredited cacophony of lies being rehashed in recent times about GoldBod’s operations by certain elements in the Minority Caucus in Parliament. 4. Led by their pathetically ignorant Leader, Afenyo Markin, these Members of Parliament continue to make spurious claims to the effect that the GoldBod is recording losses and siphoning public funds. These ridiculous claims can only be a figment of the imaginations of these incorrigible MPs who ought to know better. Sadly, they have no interest in learning nor any regard for the truth. You take them serious at your own peril. 5. The GoldBod remains focused on the delivery of its mandate for the benefit of Ghanaians. We will not be distracted by misguided noise. For we know, that the impact of the success story of the GoldBod shall outlive the hate-driven campaign of calumny being waged by our detractors. Source: Apexnewsgh.com
Speaker Bagbin Pays Tribute to Late President Mills, Celebrates His Humility and Integrity
The Speaker of Parliament, Alban Sumana Kingsford Bagbin, has paid glowing tribute to the late President John Evans Fiifi Atta Mills, remembering him as a leader who ruled Ghana with humility, integrity, and an unwavering commitment to principle. Speaking during a memorial ceremony at Asomdwe Park marking the 14th anniversary of President Mills’ passing, Mr. Bagbin described the late president’s gentle approach to leadership as a true strength. He recalled that Mills was patient when others were anxious, optimistic in the face of pessimism, and confident amid uncertainty. Bagbin noted that President Mills was always guided by principle over convenience and maintained the same humility and integrity in office that he displayed during his campaign for the presidency. Having served in Mills’ administration as Majority Leader in Parliament, Minister for Water Resources, Works and Housing, and later as Minister of Health, Bagbin shared insights into Mills’ leadership style. He said Mills listened before making decisions, consulted widely before taking action, and never let the privileges of high office separate him from the people he served. The Speaker emphasized that Mills’ commitment to probity, accountability, and a good heart was not just political rhetoric but fundamental to his conduct in office. He added that the late president believed in the importance of strong institutions and envisioned a Ghana where power would serve the people rather than dominate them. Bagbin also reflected on Mills’ quiet determination to do what was right, even when it was difficult, and his belief that leadership was about trust, not trophies. While some saw Mills’ calm and gentle demeanor as softness, those who worked closely with him recognized it as a rare strength: the ability to remain humble in power and principled under pressure. The commemoration at Asomdwe Park brought together government officials, political figures, family, and admirers to honour the legacy of Ghana’s third President under the Fourth Republic, whose message of probity and accountability continues to inspire the nation’s democratic journey. Source: Apexnewsgh.com
Ghana Faces GH¢111 Billion Domestic Debt Repayment in 2027 and 2028 – Finance Minister Warns
Finance Minister Dr. Cassiel Ato Forson has sounded the alarm over Ghana’s looming domestic debt repayment burden, revealing that GH¢111 billion in Domestic Debt Exchange Programme (DDEP) bonds are set to mature in 2027 and 2028. Presenting the 2026 Mid-Year Budget Review to Parliament on Thursday, July 23, Dr. Ato Forson cautioned that the country must prepare for this significant financial obligation. “In two years alone, Ghana has to repay GH¢111 billion, 111, Mr. Speaker. This is the true Agenda 111 Ghana must deal with,” he stressed. Dr. Ato Forson attributed the massive repayment challenge to the structure of the DDEP, which he argued was never meant to provide a permanent solution to Ghana’s debt problems. Instead, he said, the programme merely postponed repayment, shifting the burden to coming years. “Its architect mortgaged tomorrow to survive today,” the minister remarked. The Finance Minister assured Parliament that government is adopting a proactive, forward-looking debt management strategy to honour these obligations without destabilizing the economy. He emphasized the importance of prudent debt management and careful fiscal planning to restore investor confidence and strengthen Ghana’s long-term economic resilience. The DDEP was a key component of Ghana’s broader debt restructuring efforts, designed to restore macroeconomic stability and secure IMF-backed support. While it provided short-term relief, it also deferred substantial repayments, leaving the country with a formidable challenge in the years ahead. Source: Apexnewsgh.com
Ofori-Atta Granted US Green Card After Corruption Case Fails
Ken Ofori-Atta, Ghana’s former Finance Minister, has secured permanent residency in the United States after a federal immigration judge ruled that allegations of corruption brought against him by Ghana’s Office of the Special Prosecutor (OSP) were unfounded. In a decision dated June 15, 2026, Judge David Gardey approved Ofori-Atta’s green card application, citing the OSP’s failure to provide credible evidence of criminal wrongdoing. The judge described the OSP’s affidavit, which included over 70 criminal counts ranging from conspiracy to misuse of public funds, as lacking in “credible or reliable facts” and “full of conclusory allegations.” “The lack of any persuasive evidence indicating any kind of criminal wrongdoing or criminal conspiracy involving the respondent in the OSP’s affidavit is powerful evidence,” Judge Gardey stated in his ruling. Ofori-Atta, who testified before the court, insisted he had never received anything of value from companies or individuals under investigation and had not personally profited from any decisions made while in office. The judge deemed his testimony credible. In granting the green card, the court also considered Ofori-Atta’s deep ties to the US, including his education, professional career, his US citizen son, a clean criminal record, and ongoing medical treatment. Additional factors included the removal of an Interpol Red Notice related to Ghana’s charges, a KPMG review that found only administrative weaknesses and no evidence of criminal conduct, and the US Department of Justice’s decision not to pursue extradition at Ghana’s request. Source: Apexnewsgh.com
Echoes of the Past, Hope for the Future: Alagumgube Association Joins Emancipation Day at Paga Slave Camp
The sun rose over the ancient baobab trees of the Kassena-Nankana West District, casting long shadows across the weathered stones of the Paga Slave Camp. It was a morning heavy with memory, and purpose. As the 2026 Emancipation Day celebrations began, the historic Oikworo Slave Camp stirred to life. Traditional chiefs in their finest kente cloth mingled with government officials, while the rhythmic beat of talking drums welcomed members of the African diaspora who had journeyed from across the ocean to stand on the very ground where their ancestors once suffered. Among the gathering stood a delegation that carried the hopes of the Upper East Region’s cultural preservation. The Alagumgube Association had arrived. Led by Acting Chairman Atibila Aloysius, the group moved through the crowd with quiet determination. Beside him stood Madam Prisca Naam Boma Yenzie, her presence a testament to the women who had kept their ancestors’ stories alive through generations. Apalazo-eya Joshua and other members fanned out among the attendees, their faces reflecting both the weight of history and the fire of commitment. The commemoration was not merely a ceremony, it was a journey. As participants walked the guided tours through the slave camp, they traced the footsteps of millions who had been torn from their homes. The stones seemed to whisper tales of resilience, of families shattered and spirits that refused to break. Cultural performances erupted across the grounds. Dancers in vibrant smocks told stories through movement, their feet pounding the earth in a rhythm that connected the present to the past. Traditional songs rose above the gathering, melodies that had survived centuries of sorrow to become anthems of triumph. The Alagumgube delegation listened intently as speakers took the podium. Messages of peace and unity wove through the air like threads of a grand tapestry. Reconciliation, development, and the power of remembering, these were the themes that bound the diverse gathering together. When it was their turn to speak, Acting Chairman Atibila Aloysius stepped forward with the weight of his Association’s mission on his shoulders. “We stand here not just to remember,” he declared, his voice carrying across the crowd, “but to act. The preservation of our heritage is the preservation of our identity. The Alagumgube Association is committed to protecting these monuments, educating our youth, and building a future that honors our past.” As the afternoon sun softened into gold, the delegation engaged with stakeholders from across the globe. Development partners took note of the Association’s vision. Cultural institutions exchanged contact information, eager to collaborate. The diaspora members, many with tears in their eyes, embraced their Ghanaian hosts, the bonds of shared heritage unbreakable. By day’s end, the echoes of the slave camp had been transformed. What was once a site of suffering had become a beacon of hope, a place where tourism meets education, where economic opportunity grows from historical preservation, and where the wounds of the past find healing in the promise of the future. The Alagumgube Association departed with renewed purpose. Their commitment to the Upper East Region’s cultural and historical heritage burned brighter than ever. They had come to commemorate. They left determined to collaborate, with government institutions, traditional authorities, and development partners—to ensure that the stories of their ancestors would never be forgotten, and that the landmarks that told those stories would stand strong for generations to come. In the fading light of that Emancipation Day, the Association’s delegation looked back at the Paga Slave Camp one last time. The shadows had grown long, but the hope shining from the old stones was brighter still. Source: Apexnewsgh.com
Breaking News: Chairman Wontumi Sentenced to 20 Years for Illegal Mining
On the morning of July 20, 2026, the Accra High Court became the stage for a landmark moment in Ghana’s fight against illegal mining. Bernard Antwi-Boasiako, better known as Chairman Wontumi and the influential Ashanti Regional Chairman of the New Patriotic Party, stood before Justice Audrey Kocuvie-Tay, awaiting his fate. In a courtroom filled with anticipation, Justice Kocuvie-Tay delivered a decisive verdict: 20 years imprisonment for Chairman Wontumi’s involvement in illegal mining activities on the Samreboi concession in the Western Region. The sentence, handed down shortly after 11:40 am, marked the end of one of the nation’s most closely watched trials. Source: Apexnewsgh.com
Bank of Ghana Publishes Updated Interbank FX Rates, Offering Transparent Benchmark for Cedi Performance
In a move to promote transparency and guide economic activity, the Bank of Ghana has released its latest interbank foreign exchange rates, providing a clear view of how the Ghana cedi is performing against both global and regional currencies. These reference rates, calculated from large foreign exchange transactions of ten thousand dollars or more by licensed commercial banks, serve as a reliable benchmark for travelers, businesses, and international payments. Unlike the fluctuating rates often found at commercial bank counters or local forex bureaux, the central bank’s weighted median approach filters out market volatility, reflecting genuine wholesale trading activity nationwide. As this week’s trading window opens, the Ghana cedi shows stability against major world currencies. The official mid-rate for the US Dollar stands at GH¢11.5500, with a buying rate of GH¢11.5442 and a selling rate of GH¢11.5558. The British Pound Sterling is trading at a mid-rate of GH¢15.5284, while the Euro posts a mid-rate of GH¢13.2118. The Swiss Franc remains steady at GH¢14.3126, and the Canadian Dollar at GH¢8.2407. For cross-border merchants and regional trade, the Bank of Ghana has also updated key African indicators. The cedi is pegged at a mid-rate of GH¢119.00 against the Nigerian Naira, a crucial metric for West Africa’s busiest trading corridor. Meanwhile, the regional CFA Franc is set at a mid-rate of GH¢49.6495, providing vital guidance for businesses managing import costs and currency risks across the ECOWAS sub-region. These official rates, published at the start of each trading week, underscore the central bank’s commitment to providing accurate and actionable data for all market participants, supporting both domestic and international economic planning. Source: Apexnewsgh.com
Government Unveils Bold GH₵3 Billion Plan to End Double-Track System in Senior High Schools
A major milestone is on the horizon for Ghana’s education sector as the government finalizes an ambitious capital investment strategy aimed at permanently ending the double-track academic calendar in Senior High Schools (SHSs) nationwide. Education Minister Haruna Iddrisu is set to unveil the cabinet-approved GH₵3 billion infrastructure development programme at the eagerly awaited Government Accountability Series. The initiative, described as a definitive blueprint for the future of secondary education, seeks to close the chronic accommodation and classroom deficits that first led to the adoption of the dual-track system. According to Felix Kwakye Ofosu, Minister of State in charge of Government Communications, the massive infrastructure build-out will be a focal point during the upcoming mid-year review of the national education sector. The plan significantly expands on previous localized funding efforts, combining an immediate GH₵1 billion allocation from the Ghana Education Trust Fund (GETFund) with additional global support facilities. Government officials confirm that the infrastructure drive is designed to resolve space shortages across affected schools, paving the way for the complete phase-out of the split-semester system by 2027. The double-track calendar was initially introduced as a stopgap to accommodate the surge in student enrollment following the launch of the Free SHS policy. However, persistent infrastructure bottlenecks have forced many top-tier schools to maintain the alternating schedule, drawing criticism from parents and administrators frustrated by unpredictable academic timetables. Minister Iddrisu’s forthcoming master plan will offer a detailed roadmap for upgrading lower-tier schools, expanding hostel facilities, and constructing new classroom blocks. The goal is clear: to ensure all SHS students can attend classes and enjoy regular vacations together, marking the end of the double-track era and heralding a new chapter in Ghana’s educational journey. Source: Apexnewsgh.com
Bawumia Urges President Mahama to Reject Tribunals Bill, Citing Threats to Justice and Democracy
Dr. Mahamudu Bawumia, flagbearer of the New Patriotic Party (NPP),has issued a fervent appeal to President John Dramani Mahama: refuse assent to the controversial Tribunals Bill, 2026. Bawumia’s address, delivered live to the nation, warned that the proposed legislation posed a grave risk to Ghana’s democratic foundations, threatened public trust in the judiciary, and could fundamentally alter the nation’s justice system. Bawumia called on the President to halt the bill’s approval and instead initiate extensive, inclusive stakeholder consultations before any sweeping changes were made to Ghana’s legal landscape. His call came after the bill’s legislative journey had already drawn fierce criticism from opposition lawmakers and labor unions. The bill’s passage was expedited when Parliament’s majority leaders waived the statutory 24-hour cooling-off period required between its consideration and final reading. Intense objections from the Minority and widespread protests from Organized Labor were ultimately overridden by the majority’s votes. A major point of concern among legal experts and critics was a provision that would allow regular panels, potentially including individuals with no legal training, to preside over complex criminal cases. Bawumia cautioned that such provisions, rushed through by parliamentary numbers rather than consensus, risked politicizing justice and undermining its impartial delivery. He reminded the nation of the historical abuses of regional and public tribunals in Ghana’s past and referenced the recommendations of the Kwasi Prempeh Constitutional Review Committee, which had advocated abolishing parallel tribunal systems. Instead of creating a new, potentially problematic structure to ease court congestion, Bawumia advocated for modernizing the current judiciary: expanding courtrooms, appointing more qualified judges, and digitizing court operations. Directly addressing President Mahama, Bawumia urged him to use his constitutional powers to pause the bill and invite open dialogue through the Council of State. He stressed that justice in Ghana should serve all citizens, not any one political party or administration. To achieve this, Bawumia called for a national dialogue that would bring together the Ghana Bar Association, civil society, legal experts, organized labor, and the judiciary to forge a broad consensus on the way forward. Source: Apexnewsgh.com
High Court Rejects Bid to Halt Samreboi Mining Judgment, Clears Way for Verdict
In a pivotal development at the Criminal Court 4 Division of the High Court in Accra, Justice Audrey Kocuvie-Tay dismissed an application from lawyers representing Bernard Antwi-Boasiako, also known as Chairman Wontumi, the Ashanti Regional Chairman of the New Patriotic Party (NPP). The legal team had sought to halt the court’s judgment in the high-profile Samreboi mining case and refer constitutional issues to the Supreme Court. The courtroom was tense as defence lawyer Charles Boakye, appearing on behalf of lead counsel Samuel Atta Akyea, announced that the defence had filed their application on July 16, asking for a postponement of the judgment. The defence argued that the Supreme Court needed to interpret certain constitutional issues before a verdict could be delivered. Boakye also informed the court that Atta Akyea was out of the country and would return on July 22, requesting that the matter be adjourned until then. Justice Kocuvie-Tay, however, was unmoved. She ruled that the application lacked sufficient grounds for a delay and noted that any scheduling conflicts should have been communicated well in advance. The judge further explained that oral submissions were not necessary for the court to rule on the pending application, as the motion had been properly filed and could be determined on its merits. With the application dismissed, the court proceeded to deliver its long-awaited judgment. Chairman Wontumi, Akonta Mining Company Limited, and a third accused, Kwame Antwi, all stood trial over allegations of illegal mining activities on the Samreboi concession in the Western Region, a charge they have consistently denied. The judge’s decision not only cleared the way for the verdict, but also signaled a commitment to timely justice in a case with national ramifications. Source: Apexnewsgh.com