Why Gold Losses Are Problematic – Financial Analyst Speaks

Accra: The Chief Executive Officer of Dalex Finance, Joe Jackson, has bemoaned the persistent losses in gold trading, describing the situation as difficult to justify. Speaking on TV3's The Big Issue programme on Saturday, May 2, 2026, Jackson questioned how a commodity traditionally viewed as a safe-haven asset could be generating such steep losses. His remarks come at a time when the Bank of Ghana is grappling with its own financial challenges. According to Ghana Web, the central bank recently reported significant losses in its accounts, driven largely by valuation effects and market operations. Joe Jackson opined that such losses could undermine confidence in the BoG's ability to stabilise the economy, particularly as Ghana continues to battle inflationary pressures and currency volatility. The Bank of Ghana posted a loss of GHS15.63 billion for the year ended December 31, 2025. This represents a 65% increase from the GHS9.49 billion loss recorded in 2024. At the Group level, which includes its subsidi aries, losses also rose to GHS15.29 billion, up from GHS9.41 billion the previous year. This indicates that financial pressure affected both the Bank and its related entities. The central bank transferred the entire loss into its general reserve fund, leaving no retained earnings at the Bank level. However, the Group still recorded retained earnings of GHS647.54 million, higher than GHS305.33 million in 2024. Overall, the figures show the Bank faced a more challenging financial year as it continues efforts to recover and strengthen its financial position.