Publish names of third party dealers involved in ‘Gold for Oil’ programme -CSOs

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 A group of Civil Society Organizations in the energy sector have called on the government to publish the names of third-party dealers involved in the ‘Gold for Oil’ programme.

The call comes after some oil marketing companies (OMCs) withdrew from the programme due to unresolved concerns. 

The Ghana Chamber of Bulk Oil Distributors has also expressed concerns about the implementation of the programme.

Energy analyst and co-chair of the Ghana Extractive Industries Transparency Initiative (GHEITI), Dr. Steve Manteaw, said the government must publish the names of all intermediary dealers in the programme to promote transparency. 

Speaking on Joy Business, he added that the current mode of the programme creates room for some operators to take advantage of the system.

“There is no disclosure in terms of who is financing the domestic gold purchasing in this transaction. We are going to resort to the services of a third party. For instance, who is selling Ghana’s gold? if it’s a broker then the broker services have to be disclosed”.

Dr. Manteaw stated lack of transparency will encourage corrupt acts that may defeat the goal of the programme.

“I think it’s fair to ask questions. How much is the broker being paid and how does it affect what we receive as a country in terms of reserves”, he asked..


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