Verified: NDC gov’t has added less than one tonne of gold to reserves since Jan. 2025

During a recent speech in London, Ghana’s former Vice President, Dr. Mahamudu Bawumia, made a claim. He stated that the current NDC administration has not added any gold to the country's reserves.

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

Data from the Bank of Ghana supports this claim.

As of May 2023, Ghana's gold reserves were at 8.78 tonnes. By December 2024, reserves rose sharply to 30.53 tonnes—an increase of 21.75 tonnes.

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

By April 2025, reserves increased slightly to 31.37 tonnes. This marks a net addition of only 0.84 tonnes—below the one-tonne threshold mentioned by Dr. Bawumia.

VERDICT: Dr. Bawumia’s claim is supported by data from the central bank regarding gold reserves since the NDC took office.