ACCRA, Ghana, 19th August: Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has challenged Minority Leader in Parliament, Alexander Afenyo-Markin, to substantiate his allegations that the state-owned gold trading institution has incurred losses.
Mr Gyamfi said he was ready to appear before Parliament or any of its committees to answer questions about GoldBod’s operations, finances and overall performance.
He challenged Mr Afenyo-Markin to produce evidence to support his claims that GoldBod recorded losses and was responsible for losses incurred by the Bank of Ghana (BoG) under its Domestic Gold Purchase Programme (DGPP).
“Mr Afenyo-Markin, you claim GoldBod has made losses. You also claim that GoldBod is responsible for the losses of the Bank of Ghana. We are waiting for your invitation to appear before Parliament for you to substantiate these claims,” Mr Gyamfi said.
Speaking at the Government Accountability Series on Wednesday, August 19, the GoldBod CEO said the institution had nothing to hide and was prepared to subject its operations and financial performance to parliamentary scrutiny.
His challenge follows repeated criticisms from Mr Afenyo-Markin regarding GoldBod’s financial performance and its role in the Bank of Ghana’s DGPP.
Mr Gyamfi maintained that GoldBod’s audited 2025 financial statements showed an operational surplus of GH¢907 million and an overall surplus of more than GH¢5.4 billion.
He also rejected attempts to link GoldBod to the Bank of Ghana’s reported US$1.7 billion loss under the DGPP, arguing that GoldBod’s role during the relevant period was primarily that of a buying agent.
According to him, GoldBod had no role in the subsequent sale of the gold or in determining the offtake terms that applied under the programme.
Mr Gyamfi therefore urged the media and the public to demand evidence whenever allegations are made about GoldBod’s financial performance or its role in the Bank of Ghana’s reported losses.
He stressed that the institution remained committed to transparency and accountability and would continue to provide information on its operations to enable Ghanaians to assess its performance based on audited financial records.
Mr Gyamfi said GoldBod would remain focused on its core mandate of maximising the value Ghana derives from its gold resources while strengthening accountability in the management of the country’s mineral wealth.
Story by: Emmanuel Romeo Tetteh(#RomeoWrites✍️)/ Presidential Affairs Correspondent | Ghana 🇬🇭