Afenyo-Markin questions GoldBod operations over reported losses
Minority Leader Alexander Afenyo-Markin has intensified criticism of the Ghana Gold Board (GoldBod), arguing that a business involved in trading gold should not be recording losses.
Speaking during a radio interview on Monday, the Effutu MP challenged the commercial performance of the state-backed gold trading initiative, suggesting that any trader who consistently sells gold below value cannot be considered successful.
His remarks were directed at GoldBod Chief Executive Officer Sammy Gyamfi and come amid ongoing debate over the financial performance of Ghana’s gold purchasing programme.
According to Mr Afenyo-Markin, the country’s gold trade should generate value rather than raise questions about losses, especially at a time when gold remains one of Ghana’s most important export commodities.
The Minority Leader’s comments follow concerns raised in connection with the Domestic Gold Purchase Programme, which has attracted public and political attention after reports linked it to significant financial setbacks. While GoldBod has rejected suggestions that the reported figure represents a direct loss by the institution, the matter continues to generate discussion among policymakers and economic analysts.
Mr Afenyo-Markin warned that greater transparency would be needed to reassure the public about the programme’s operations and financial management. He argued that Parliament and citizens must remain interested in how the country’s gold resources are being purchased, managed and traded.
The latest criticism is part of a broader debate over GoldBod’s role in Ghana’s gold sector and its contribution to efforts aimed at strengthening foreign exchange reserves, stabilising the cedi and improving oversight of the gold trade.
As questions persist, the operations of the Gold Board are likely to remain under close scrutiny from both government and opposition figures in the months ahead.
Source: myjoyonline.com
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