Accra: The Chief Executive Officer of Dalex Finance, Joe Jackson, has raised concerns about the persistent losses in the Bank of Ghana's gold transactions, urging for immediate corrective measures. Speaking on The Key Points on TV3 Ghana, he highlighted the troubling nature of the situation, questioning the rationale behind the inability to secure positive returns from gold trading activities.
According to Ghana Web, the Bank of Ghana's 2025 Financial Report revealed that the Domestic Gold Purchase Programme recorded a significant loss of GHS9.05 billion, up from GHS5.66 billion in 2024. This programme, initially introduced to boost foreign exchange reserves and stabilize the cedi, has contributed to a rise in Ghana's gold holdings, providing some cushion to the economy during volatile periods.
Joe Jackson emphasized the need to address these trading losses urgently, pointing out the difficulty in understanding how gold transactions consistently result in financial setbacks. He warned that the ongoing trend raises serious questions about the efficiency and accountability in managing the programme.
The government has announced reforms aimed at improving efficiency in the gold trading value chain. The Ghana Gold Board is expected to assume a more central role in managing purchases and sales to reduce losses and enhance returns. While the policy has supported currency stability and reserve accumulation, analysts note that it has also exposed the central bank to market risks, including price fluctuations and trading margins, which can result in such losses.