Goldbod clears air on alleged GHS11m office renovation contract

The Ghana Gold Board (GoldBod) has strongly rejected allegations circulating on social media claiming that it awarded an GH¢11 million office renovation contract through sole sourcing and procured laptops at inflated prices, describing the claims as false and misleading.

In a detailed statement issued by its Corporate Affairs Directorate, GoldBod said the allegations were being spread by “fake news merchants” seeking to create a negative public perception about the operations of the newly established state agency.

The controversy emerged after online commentators alleged that GoldBod had awarded a major renovation contract to Correca Ghana Limited, a company they claimed was linked to politically exposed individuals, through a sole-source procurement method.

The same sources further alleged that the institution had purchased 15 laptops for GH¢322,500, claiming the devices were procured at inflated prices.

Responding to the allegations, GoldBod explained that the claims misrepresented the procurement process that led to the renovation of its current office building and the purchase of ICT equipment for the organisation’s new management structure.

According to the statement, GoldBod was established in April 2025 following government reforms aimed at restructuring Ghana’s gold trading and regulatory architecture.

The creation of the institution required the expansion of the workforce previously attached to the Precious Minerals Marketing Company (PMMC), which had previously handled aspects of gold purchasing and marketing for the state.

GoldBod stated that following its establishment, it embarked on a large-scale recruitment exercise, which resulted in the hiring of over 300 new employees to support its expanded operations.

The institution also introduced a new organisational structure that created several directorates, departments and operational units, making it necessary to secure a larger and more suitable office facility to accommodate the expanded workforce and operational requirements.

Before the transition, the PMMC had operated from offices located at Diamond House in Accra, a facility GoldBod described as dilapidated and inadequate for the needs of the new organisation.

As a result, management decided to relocate the institution’s operations to the former Bank of Ghana Head Office building at No. 1 Thorpe Road in Accra, which was rented to serve as GoldBod’s new operational headquarters.

However, GoldBod indicated that although the building offered more space, it had previously been described by the Bank of Ghana as structurally defective and not fit for purpose.

According to the statement, the building required substantial renovation and refurbishment works to improve its structural integrity and make it suitable for modern office use.

The decision was therefore taken to undertake renovation works on the facility to ensure that it met the operational and safety needs of the newly established institution.

GoldBod explained that the procurement process for the renovation project followed the procedures outlined under Ghana’s Public Procurement Act. On 26 May 2025, the institution formally submitted a request to the Public Procurement Authority (PPA) seeking approval to use the Restricted Tendering procurement method for the renovation project.

According to the statement, the PPA subsequently granted approval for this procurement method on 24 June 2025, allowing the institution to proceed with the selection of a contractor through restricted competitive bidding rather than sole sourcing.

Under the restricted tendering process, three companies were shortlisted and invited to participate in the bidding process for the renovation project.

GoldBod stated that Correca Ghana Limited emerged as the successful bidder after the evaluation process, and was subsequently awarded the contract to carry out the renovation works on the former Bank of Ghana office building.

The institution therefore rejected claims that the project was awarded through sole sourcing, describing the allegation as “mischievous and false.”

According to GoldBod, the contractor successfully completed the renovation works in a timely and professional manner in accordance with the contractual terms agreed between the parties.

GoldBod further stated that, in line with its commitment to transparency and accountability, the details of the renovation contract were publicly disclosed.

In accordance with Section 42(1)(c) of the Ghana Gold Board Act, 2025 (Act 1140), the institution said the contract documents were published on its official website on March 10, 2026, allowing the public to access the details of the procurement process.

The institution therefore dismissed claims that the documents had been secretly intercepted, insisting that the contract was openly published.

The GoldBod statement also addressed allegations concerning the procurement of 15 laptop computers, which critics had claimed were purchased at inflated prices.

According to the institution, the laptops were procured in November 2025 as part of efforts to equip newly appointed Directors and Deputy Directors with the necessary ICT tools to perform their duties effectively.

GoldBod explained that due to the urgency of the procurement and the limited availability of the specified laptop model at the time, the institution sought approval from the Public Procurement Authority to use the Single Source procurement method for the purchase.

The PPA subsequently granted approval for the method to be used for the procurement activity.

In addition, the institution said the procurement received Commitment Authorization from the Ministry of Finance, in compliance with the provisions of the Public Procurement Act and financial management regulations governing public expenditure.

According to GoldBod, the 15 Lenovo ThinkPad T14S laptops were purchased from GET4LESS Ghana Limited at a total cost of GH¢322,500, translating into a unit price of GH¢21,500 per laptop, inclusive of taxes. The institution insisted that the price aligns with prevailing market rates for the specific laptop model, which features Intel Core i7 1355U processors, 16GB RAM, 512GB SSD storage and a 14-inch Full HD display.

GoldBod further noted that a review of the supplier’s website shows the open market price of the same laptop at approximately GH¢21,505, demonstrating that the procurement price was consistent with market value.

According to the institution, checks with other technology suppliers would also confirm that the price paid for the laptops was competitive and not inflated as alleged.

The institution explained that GET4LESS Ghana Limited was selected as the supplier because it was the only company at the time capable of supplying the required quantity of the specified laptops within the tight delivery timelines required by GoldBod’s operational needs.