Africa Policy Lens (APL) has formally requested detailed information from the Bank of Ghana regarding recent divestments of portions of the country’s gold reserves, citing concerns over transparency, accountability, and strategic rationale.
In a letter dated 9 March, APL requested confirmation of the total quantity of gold sold in the third and fourth quarters of 2025, the exact dates of transactions, the pricing benchmarks used, and the average realized sale price per ounce.
The group also sought disclosure of counterparties involved in the transactions, including beneficial ownership, as well as the involvement of any local partners. APL requested clarification on the transaction structures, including whether the gold was sold outright, leased, swapped, or subject to buy-back clauses.
Additional queries
Additional queries cover the financial handling of proceeds, including the accounts into which funds were credited, their application toward reserves, debt servicing, investments, and details of commissions or fees paid to advisors, brokers, or transaction facilitators.
APL asked for the strategic and economic rationale behind the divestment, any market analyses used to inform the timing of the sale, and confirmation of decision-making authorities, including Board approval, Cabinet involvement, and whether Parliament was notified.
The letter, signed by Hayford M. Ayerakwa, Director of Research, Administration, and Partnerships at APL, also requested clarification on accountability mechanisms for potential losses resulting from the divestments.
APL invoked the Right to Information Act, 2019 (Act 989), urging the Bank of Ghana to provide the requested details within statutory timelines.
Attached is the full details of APL’s request
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