.png)
Dr Edwin Alfred Provencal is erstwhile MD of BOST
Former Managing Director of the Bulk Oil Storage and Transportation Company (BOST), Dr Edwin Provencal, has raised concerns astir a slowdown successful Ghana’s golden reserve accumulation successful aboriginal 2025.
He is truthful calling for accrued transparency and strategical involution to code the issue.
In an investigation shared connected his Facebook leafage connected May 7, 2025, Dr Provencal presented a forecasting exemplary built utilizing humanities reserve information from May 2023 to December 2024.
The exemplary projected dependable monthly maturation successful golden holdings passim 2025, utilizing the formula: ln (Gold) = 2.366 + 0.05686 × Month_Index
The exemplary demonstrated a beardown correlation (R² ≈ 0.907) and anticipated that Ghana’s golden reserves would transcend 33 tonnes by April 2025.
However, Dr Provencal noted that existent figures for the play from January to April 2025 bespeak a slower pace.
Ghana’s golden reserves hovered astir 31.4 tonnes astatine the extremity of April, falling abbreviated of the forecast.
The erstwhile BOST MD said this divergence signals a disruption successful the antecedently dependable accumulation inclination observed implicit the anterior 20 months.
“This discrepancy indicates slower reserve accumulation,” Dr. Provencal explained, citing imaginable operational bottlenecks, budgetary limitations, marketplace constraints, oregon geopolitical developments that whitethorn beryllium affecting golden procurement.
He besides pointed to interior challenges, including the regulatory modulation from PMMC to GoldBod, and the imaginable interaction of amerciable mining, smuggling, oregon golden diversion.
Dr Provencal nevertheless emphasised that golden reserve maturation remains a captious nationalist economical precedence and urged the authorities to instrumentality proactive measures.
"We indispensable summation transparency astir monthly reserve accumulation targets and performance," helium wrote.
He further recommended establishing strategical buffers oregon contingency plans to cushion shortfalls and reconstruct momentum.
In conclusion, Dr Provencal made an entreaty saying, "A absorption connected improving the existent run-rate to the erstwhile complaint volition guarantee we’re connected way to fixing our cardinal cardinal - RESERVES!"
Meanwhile, the Bank of Ghana (BoG), successful a caller nationalist update, reported that the country’s golden reserves stood astatine 31.37 tonnes arsenic of April 30, 2025, marking a sustained upward inclination successful the cardinal bank’s effort to bolster overseas speech reserves and reenforce monetary argumentation credibility.
The April fig reflects a humble summation from 31.01 tonnes successful March 2025, continuing the maturation trajectory that began successful May 2023, erstwhile reserves were conscionable 8.78 tonnes.
The much than threefold summation implicit the past 2 years highlights a decisive argumentation displacement by the cardinal bank, which has been leveraging Ghana’s golden accumulation done the Domestic Gold Purchase Programme to enactment macroeconomic stability.
Read his station below:
MA
Watch the latest variation of BizTech below:
Click present to travel the GhanaWeb Business WhatsApp channel
English (US) ·