The Resource Governance Group has issued a cautionary message regarding the possible financial dangers that the company GoldBod might face. They are highlighting the need for careful attention to the financial aspects of the company, suggesting that there are certain risks that could impact its financial stability.
The group‘s warning serves as a reminder of the importance of monitoring and managing financial activities to prevent any adverse effects on the company‘s overall performance.
The Forum for Responsible Resource Governance (FRRG) has issued a warning that the Ghana Gold Board’s (GoldBod) intended land reclamation project may place the institution at greater financial risk if it moves forward without a clear legal authorization and a well–structured project plan.
The organization pointed to the significant losses that GoldBod reported in 2025, suggesting that this new initiative could worsen concerns about how the agency handles its finances. The group emphasized that maintaining public trust in the agency depends on careful spending and strict compliance with its legal responsibilities.
According to the statement, the planned expenditure of GH¢36.35 million is hard to justify within the scope of GoldBod’s main responsibilities. The Forum contended that launching a large–scale environmental restoration effort goes beyond what the agency is legally allowed to do and could therefore be an improper use of public money.
The group noted that the considerable losses experienced by the Ghana Gold Board in 2025, which exceeded $214 million, are still a matter of concern for Ghanaians. It warned that starting another major, resource–heavy project without a clear legal basis or detailed planning could lead to more worries about accountability and how financial resources are managed.
The FRRG also branded the initiative as an example of wasteful public spending, urging authorities to put the project on hold until it undergoes further evaluation and public examination. The group claimed: “There is no doubt this reminds one of the classic ‘Create, Loot and Share’ schemes that this government is known for,” though it urged an immediate review of the program.
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