Data from the central bank of Ghana has confirmed former Vice President Dr. Bawumia's claims that the Mahama-led government hasn't added even a single tonne of gold to the country's reserves since it began its tenure.He made these claims during a recent address to the Young Executive Forum in London on Monday, 19 May.

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“Sixty-five years after independence, we had only 8.7 tonnes of gold reserves.

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But in just two years, we increased that to 30 tonnes—a significant buffer for our currency. Since the NDC took over, they haven’t added even one tonne.”

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An examination of data from the Bank of Ghana corroborates this claim.

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However, some political figures and analysts challenged the broader narrative surrounding Ghana’s gold reserves and economic policies.

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Ghana’s gold reserves stood at 8.78 tonnes as of the end of May 2023.However, the reserve saw a sharp rise in December 2024 with an increase of over 21.75 tonnes.

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Since the NDC assumed office in January 2025, growth in gold reserves has been modest.

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By end-April 2025, reserves had inched up to 31.37 tonnes, marking a net addition of 0.84 tonnes—below the one-tonne threshold cited by Dr. Bawumia.

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VERDICT: Dr. Bawumia’s claim that the NDC government has not added a full tonne of gold to Ghana’s reserves since taking office has been proven by data from the central bank.

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