Accra: Minority Leader and Member of Parliament for Effutu, Alexander Kwamena Afenyo-Markin, expressed his willingness to commend the Ghana Gold Board (GOLDBOD) if it performs well, despite his critical stance on its gold purchase programme. Afenyo-Markin emphasized that his criticism should not be seen as envy or bitterness, as he is prepared to acknowledge the institution's successes.
According to Ghana Web, the Effutu MP's comments were made during an appearance on Peace FM, where he discussed the perceived failures of GOLDBOD. Afenyo-Markin cited an International Monetary Fund (IMF) assessment that reportedly attributed GHS22 billion in losses to the gold purchase programme. He emphasized that these were not his claims but those of the IMF, underscoring the programme's financial shortcomings.
Afenyo-Markin also questioned GOLDBOD's dual role as both a regulator and purchaser of gold from small-scale miners. He raised concerns about the fees paid to aggregators, which were initially set at 15% but later reduced after the Minority voiced objections. Following an emergency board meeting by GOLDBOD and the Bank of Ghana, the fees were reviewed down to 9%, and eventually further to 5% after parliamentary discussions.
The lawmaker argued that these adjustments validated the Minority's concerns and rejected any suggestion that his critiques stemmed from ignorance or personal animosity. He underscored that the fee reductions demonstrated the legitimacy of the issues raised by the Minority.
Additionally, Afenyo-Markin raised alarms about the inclusion of financing costs for the gold purchase programme in the upcoming 2027 national budget, indicating that the figures are yet to be revealed. He reiterated that his criticisms were grounded in factual developments and not driven by personal grievances.