During a recent address to the Young Executive Forum in London, Ghana’s former Vice President, Dr Mahamudu Bawumia, claimed that the current NDC administration has yet to add even a single tonne of gold to the country’s official reserves.
CLAIM: “Sixty-five years after independence, we had only 8.7 tonnes of gold reserves. But in just two years, we increased that to 30 tonnes—a significant buffer for our currency. Since the NDC took over, they haven’t added even one tonne.”
An examination of data from the Bank of Ghana corroborates this claim.
As of end-May 2023, Ghana’s gold reserves stood at 8.78 tonnes.
By December 2024 reserves had risen sharply to 30.53 tonnes, an increase of 21.75 tonnes.
Since the NDC assumed office in January 2025, growth in gold reserves has been modest.
Read Also: If not for Gold-for-Oil, our economy would have collapsed – Bawumia
By end-April 2025, reserves had inched up to 31.37 tonnes, marking a net addition of 0.84 tonnes—below the one-tonne threshold cited by Dr. Bawumia.
VERDICT: Dr. Bawumia’s claim that the NDC government has not added a full tonne of gold to Ghana’s reserves since taking office is supported by data from the central bank.
Read Also: ‘NDC has no policy behind cedi gains’ – Bawumia dismisses credit for currency stability
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
- President Commissions 36.5 Million Dollars Hospital In The Tain District
- You Will Not Go Free For Killing An Hard Working MP – Akufo-Addo To MP’s Killer
- I Will Lead You To Victory – Ato Forson Assures NDC Supporters
Visit Our Social Media for More
About Author
