The Ghana Gold Board has quietly terminated its much-hyped US$1 billion deal with Goldstream Global DMCC, citing non-performance, nearly a year after the deal was announced with fanfare.

Africa Policy Lens (APL) has revealed that GoldBod, in response to a Right to Information (RTI) request, confirmed the termination but failed to provide details.

The Memorandum of Understanding (MoU), signed on August 22, 2025, was intended to attract US$1 billion to develop more than 300 responsible small-scale mines.

It was unveiled by CEO Sammy Gyamfi on September 9, 2025.

However, a Right to Information request filed by Senior APL Fellow Ing Wisdom Gomashie prompted the disclosure.

According to APL, GoldBod’s statement did not disclose when the termination occurred, what obligations were breached, whether any funds were committed or whether the state incurred costs.

APL argues that this lack of transparency poses a risk to the governance of Ghana’s mineral resources.

“Commercial agreements may fail for legitimate reasons and terminating an arrangement following non-performance can be appropriate. The termination itself is not evidence of wrongdoing. Nevertheless, the public announcement of a major investment initiative should be accompanied by comparable transparency when the initiative is discontinued,” APL noted in a statement.

The policy think tank is now calling for:

1. Publication of the full executed MoU, termination notices and all associated records.
2. A comprehensive account of the due diligence undertaken before the agreement was signed.
3. Disclosure of any financial or operational exposure to the state.

APL says the case raises broader questions about how public institutions vet investors, monitor performance and communicate failures to the public.

It is calling for institutional reforms to require mandatory due diligence and timely disclosure for all major commercial agreements.