The Ghana Gold Board (GoldBod) has clashed with critics over potential conflicts of interest and concerns about value for money in contracts totaling more than GH₵11 million.
The board has rejected the criticisms, insisting that all contracts were awarded in accordance with established procurement procedures and were duly approved by the Public Procurement Authority (PPA).
Critics, however, have raised concerns over the use of restrictive tendering and the award of multiple high-value contracts, prompting calls for greater transparency in the operations of the newly established corporation.
A particularly contentious contract involves more than GH₵1.5 million awarded to Correca Ghana Limited, a company linked to Deputy Chief of Staff Stan Dogbe. Critics argue that awarding a government contract to a firm associated with a senior government official raises clear conflict-of-interest concerns.
The concerns are heightened by the procurement method used. Restrictive tendering, which limits the number of potential bidders, has sparked suspicions of possible favoritism. While the method is generally permitted for specialized projects or situations where only a few suppliers can meet technical requirements, critics contend that its use for procuring office furniture—items widely available on the market—is difficult to justify.
The controversy has been further fueled by another GH₵1.2 million contract awarded to a different company for similar quantities of office furniture, raising questions about possible duplication and whether the state obtained value for money.
Additional concerns have also been raised about the procurement of laptop computers, with some critics alleging that the prices may have been inflated.
Responding to the allegations, GoldBod’s Media Relations Officer, Prince Kwame Minka, dismissed the claims, describing assertions of inflated costs and improper contract awards as “mischievous” and “completely false.”
The board explained that since its establishment in April 2025, it inherited and expanded the workforce of the defunct Precious Minerals Marketing Company (PMMC), recruiting more than 300 new staff.
According to the board, the expansion required additional office space as well as the refurbishment of the old Bank of Ghana Head Office at No. 1 Thorpe Road in Accra, which had previously been declared structurally defective.
GoldBod said it sought and obtained approval from the PPA on May 26, 2025, to use restrictive tendering for the renovation works, with formal approval granted on June 24, 2025. Three companies were subsequently shortlisted for the tender, with Correca Ghana Limited emerging as the successful bidder.
The board maintained that the company was fully qualified, completed the works professionally, and fulfilled all contractual obligations.
GoldBod further noted that the contract was published on its official website on March 10, 2026, in accordance with Section 42(1)(c) of the Ghana Gold Board Act, 2025 (Act 1140), as part of its commitment to transparency.
Mr. Minka also clarified that Correca Ghana Limited, which has been in existence since August 2017, is jointly owned by two companies—Eclaire Ghana Limited and Woezor Holdings Ghana Limited.
He explained that Mr. Stan Dogbe is no longer involved in the day-to-day operations of either Correca Ghana Limited or Woezor Holdings Ghana Limited.
According to him, Mr. Dogbe’s role as Deputy Chief of Staff in charge of Operations has no influence over procurement processes within State-Owned Enterprises (SOEs).
Despite these explanations, critics remain skeptical, particularly regarding the perceived concentration of contracts among companies linked to high-ranking government officials and the use of procurement methods that may restrict competition.
Observers argue that even when such contracts receive PPA approval, public confidence could be undermined if they are perceived to benefit insiders, especially within a newly established institution responsible for overseeing a sector as strategically important as gold.
The dispute has renewed calls for stronger oversight and stricter adherence to procurement best practices.
Analysts warn that value for money and fair competition must remain central to public procurement—especially in high-value contracts—to prevent reputational damage and maintain public trust in state institutions.
GoldBod, meanwhile, has urged the public to disregard what it describes as misinformation and to maintain confidence in its processes, reiterating its commitment to transparency, accountability, and the principles outlined in its enabling legislation.
As Ghana continues to strengthen its gold governance architecture, the scrutiny surrounding these GH₵11 million contracts highlights the need for robust oversight mechanisms and clear conflict-of-interest safeguards to ensure public resources are managed ethically and efficiently.
