Accra:The Ghana Gold Board has ended its US$1 billion agreement with Goldstream Global DMCC. This decision comes nearly a year after the deal was announced, with the board citing non-performance as the reason for the termination.
According to Ghana Web, Africa Policy Lens (APL) uncovered the termination through a Right to Information request. However, GoldBod did not provide specific details about the termination, such as the timing, breached obligations, financial commitments, or potential costs incurred by the state.
The original Memorandum of Understanding, signed on August 22, 2025, was intended to bring US$1 billion to help develop over 300 responsible small-scale mines. The deal was publicly announced by CEO Sammy Gyamfi on September 9, 2025.
APL has expressed concerns over the lack of transparency, stating that while terminating an agreement due to non-performance can be valid, the public deserves full disclosure when a major investment initiative is discontinued. As a result, APL is advocating for the release of the full executed MoU, termination notices, and all related records.
The think tank is also calling for a comprehensive account of the due diligence conducted before the agreement, as well as disclosure of any financial or operational exposure to the state. APL believes this situation highlights the need for institutional reforms to ensure mandatory due diligence and timely disclosure for significant commercial agreements.