Accra: The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has dismissed claims by Minority Leader Alexander Afenyo-Markin that the institution has recorded losses. In a Facebook post on August 17, 2026, Gyamfi described the claims as 'a blatant lie' and said they were based on what he termed the 'hallucinatory imagination' of the Minority Leader.
According to Ghana Web, Gyamfi cited page 16 of GoldBod's audited Annual Report and Financial Statements for the year ended December 31, 2025, which he said recorded an operational surplus of GHS907 million and an overall surplus of GHS5.4 billion. This evidence was provided to counter the Minority Leader's position, stressing that the figures were contained in the official report. Gyamfi emphasized that the audit report was prepared and published by the Auditor-General of the Republic of Ghana.
The remarks from Gyamfi follow criticism from Afenyo-Markin regarding GoldBod's financial performance and the country's gold purchasing operations. Speaking on Peace FM on Monday, August 17, 2026, the Minority Leader questioned the commercial rationale behind reported losses associated with the programme, arguing that an institution whose core mandate is to buy and sell gold should be able to operate profitably.
Afenyo-Markin's comments have contributed to an ongoing debate over the financial performance of the Bank of Ghana's Domestic Gold Purchase Programme, which is implemented through GoldBod. The International Monetary Fund (IMF) previously reported a US$214 million loss associated with the programme. However, GoldBod rejected suggestions that the amount represented a loss incurred directly by the Board.
Despite the clarifications provided, Afenyo-Markin has maintained his concerns about the institution's operations and called for increased scrutiny of its financial dealings. He has warned that GoldBod could become a major scandal if questions surrounding its operations are not properly addressed, urging the management to be cautious about issues not yet known to the public.
GoldBod was established to regulate Ghana's gold trading industry and strengthen the country's participation in the gold value chain.