8 Major Things GoldBod’s Alleged US$214 Million Losses Could’ve Done for Ghana

Fresh allegations that GoldBod may have incurred losses amounting to US$214 million have ignited public debate. MyNewsGh has compiled the opportunity cost to Ghana if the money had been spent on the budget. 

Analysts say the amount exceeds funding for some of Ghana’s most critical social and infrastructure needs. 

Here is what US$214 million could realistically have delivered for the nation.

Pay 70,000 Degree Nurses 

With the average degree-holding teacher earning about GHS 4,000 per month, the alleged loss could have paid the annual salaries of more than 70,000 teachers. That is enough to staff nearly every underserved rural school across the country, significantly reducing class sizes and improving learning outcomes.

Pay 85,000 Diploma Nurses 

At an average monthly salary of about GHS 3,300 for a diploma nurse, Ghana could have employed over 85,000 nurses for a full year. This would have cleared the backlog of trained but unposted nurses not once, but twice, easing pressure on health facilities nationwide.

Pay Allowances to 1.1million teacher and nursing trainees 

In the 2025 budget, government allocated GHS 683 million for teacher and nursing trainee allowances. The alleged US$214 million loss is almost five times that amount, enough to sustainably support allowances for more than 1.1 million trainees and secure the future health and education workforce.

Complete 13 Agenda 111 Hospitals 

Under the Agenda 111 programme, each district hospital is estimated to cost about US$16.8 million. The funds in question could therefore have delivered between 12 and 13 fully equipped district hospitals, dramatically expanding access to healthcare in underserved parts of the country.

Complete 40 E-Blocks

A standard E-block senior high school costs roughly US$5 million to construct. The lost amount could have built over 40 modern secondary schools, effectively placing a new SHS in nearly every other district within an entire region.

New Presidential Jets 

While a brand-new presidential aircraft can cost well over US$300 million, high-end pre-owned long-range jets such as the Falcon 900EX sell for about US$10 million. The alleged loss is equivalent to a fleet of about 21 such aircraft, highlighting the sheer scale of the figure involved.

27 New Factories 

Through Ghana’s industrialisation initiatives, including the Districts of Industry Framework, medium-to-large factories often require between US$7 and US$8 million in initial financing. With US$214 million, the country could have established around 27 large-scale factories, creating thousands of jobs and strengthening domestic value chains.

Another Terminal 3

Kotoka International Airport’s Terminal 3, one of the most modern aviation facilities in West Africa, was financed with about US$120 million. The alleged losses could have funded almost two terminals of similar standard, reinforcing Ghana’s position as a regional aviation and logistics hub.