Storyline
Ghana Energy Bribery Conviction
Timeline
- Mon, Aug 31LatestUnverified — not yet reviewed
IEAG Commends GoldBod and Bank of Ghana for Improving Forex Stability
The Investment Environment Advisory Group has commended GoldBod and the Bank of Ghana for contributing to improved foreign exchange stability, a positive assessment that sits alongside the ongoing governance dispute surrounding the Gold Board. The commendation adds a new stakeholder voice to the GoldBod story, which has previously attracted funding crisis denials, transparency law allegations, a GH¢1.7 billion loss attribution dispute, and a lawsuit against its CEO.
- Thu, Aug 27Unverified — not yet reviewed
IEA Clarifies Attribution of GH¢1.7 Billion GoldBod Loss
The Institute of Economic Affairs has stated that the GH¢1.7 billion loss attributed to GoldBod has been misconstrued, offering a clarifying assessment of how the figure should be interpreted. The intervention adds an independent analytical dimension to the ongoing governance dispute surrounding the Ghana Gold Board, which has already attracted funding crisis denials, transparency law allegations, and a separate lawsuit against its CEO.
- Wed, Aug 26Unverified — not yet reviewed
IERPP Accuses GoldBod of Removing Quarterly Trading Reports, Breaching Transparency Law
The Institute for Energy Research and Policy Planning has accused the Ghana Gold Board of breaching transparency law by removing quarterly trading reports from its website. The allegation adds a formal civil society accountability dimension to the ongoing governance dispute surrounding GoldBod, which has already attracted a funding crisis denial and a separate lawsuit against its CEO.
- Tue, Aug 25Unverified — not yet reviewed
GoldBod Rejects Funding Crisis Claims as Sources Allege Buyers Went Weeks Without Funds
GoldBod has officially rejected claims of a funding crisis, stating that gold purchases remain on course. Sources, however, allege that Ghana gold buyers went weeks without funds, directly implicating the supply chain for the country's artisanal and small-scale mining sector. A parallel legal dimension has emerged, with opposition MP Afenyo-Markin suing GoldBod CEO Sammy Gyamfi and others over alleged extortion claims, adding a governance layer to the ongoing dispute.
- Thu, Aug 20Unverified — not yet reviewed
Ghana Gold Board Explores Traceability Technology to Track Mined Gold Sources
The Ghana Gold Board is exploring the adoption of traceability technology to track the sources of mined gold, signalling a state-led push toward supply-chain transparency in the mining sector. The development adds a technology dimension to the broader scrutiny surrounding Ghana's gold sector governance.
- Wed, Aug 19Unverified — not yet reviewed
GoldBod Faces Calls for Major Cuts Amid Disputed Losses, Design Flaws and Macro Debate
Ghana's government is reportedly planning significant cuts to GoldBod following what economist Prof Bokpin describes as unsustainable losses, hidden fiscal costs, and avoidable design defects in the entity's structure. A parallel debate has emerged, with Manteaw arguing the $1.7 billion in reported losses is justified by forex stabilisation gains, while Bokpin cautions that GoldBod should not be credited for Ghana's broader macroeconomic improvement. The dispute has direct implications for investor confidence in Ghana's resource-sector governance and macroeconomic stability.
- Sun, Aug 16Unverified — not yet reviewed
AKSA Energy Bribery Scandal Deepens as MPs Call for Accountability and Public Inquiry
Two Ghanaian MPs have added their voices to the growing AKSA energy deal controversy, with Dafeamekpor calling for Ghana to confront its accountability deficit and Baffour Awuah stating that the alleged bribery exposes serious systemic failures in the country's energy procurement processes. The escalating political debate follows earlier calls for a public inquiry and the NDC-NPP dispute over the Attorney General's role in the probe.
- Sat, Aug 15Unverified — not yet reviewed
AKSA Energy Deal and GoldBod Losses Face Governance Scrutiny on Newsfile
Ghana's Newsfile programme is set to discuss the AKSA energy deal, the current legal vacation period, and reported losses at GoldBod. The broadcast agenda keeps both the energy sector governance controversy and GoldBod's financial performance in public focus.
- Fri, Aug 14Unverified — not yet reviewed
Aksa Energy Bribery Probe Draws Political Debate as Public Inquiry Demanded
Ghana's Manhyia South MP has called for a public inquiry into the Aksa Energy bribery scandal, saying it will expose and shame those responsible, while the NDC has rejected NPP concerns about the Attorney General's credibility to lead the probe. The political dispute extends a story rooted in the earlier US conviction of a former TOR managing director and Goldman Sachs banker over Ghana energy sector bribes.
- Sat, Aug 8Unverified — not yet reviewed
Former TOR MD and Goldman Sachs banker convicted over Ghana energy bribes
A former Tema Oil Refinery managing director and Goldman Sachs investment banker has been convicted in the US on foreign bribery and money laundering charges related to a Ghana power plant deal. Court records detail how Asante Kwaku Berko allegedly paid over $1 million in bribes to a former Ghanaian minister, members of parliament, and other government officials to secure a contract for a Turkish client. The convictions signal active FCPA enforcement risk for investors operating in Ghana's energy sector procurement environment.