Mining expert Wisdom Gomashie is making waves on social media after his prediction in August 2025 came true. Gomashie had forecasted that the Ghana Gold Board (GoldBod) would incur massive losses based on its operational model.
This comes in the wake of an IMF report, released on December 17, 2025, revealing that GoldBod's operations resulted in losses of approximately US$214 million (GHS 2.6 billion) from January to September 2025, largely linked to the Bank of Ghana’s management of the gold trade.
On August 5, 2025, Gomashie took to Facebook to warn that GoldBod was headed for financial trouble. He wrote, “Ghana GoldBod shall soon declare losses. Also, the foreigners who have been banned are now operating more freely than ever... Sammy Gyamfi, return the gold trade to natural market dynamics. You can choose to ignore the advice.”
Since the release of the IMF report, Gomashie has received widespread praise for his foresight. The report further highlighted that these losses were part of a troubling trend, with the Gold-for-Oil program under the previous NPP government already having incurred losses of about US$128 million (GHS 1.5 billion) in 2024.
According to the IMF, GoldBod’s continued losses are part of the ongoing issues in Ghana's gold trading sector, which has raised concerns about the sustainability of the programme.
Source: MyNewsGh.com
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