Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has challenged the Minority Leader, Alexander Afenyo-Markin, to invite him to Parliament to account for the institution’s operations and financial performance.
GoldBod CEO said he was ready to appear before Parliament to address concerns surrounding GoldBod, including claims about losses, fees charged to the Bank of Ghana (BoG) and the institution’s gold trading activities.
He said he had already appealed to the Majority Leader to invite him to Parliament if the Minority Leader delayed initiating the process.
“I have pleaded with the Majority Leader that if even the Minority Leader delays in inviting me to Parliament, he should invite me. I am ready,” Mr. Gyamfi said.
GoldBod says fees were reduced before IMF report
Sammy Gyamfi also disputed suggestions that GoldBod only reduced the fees it charges the BoG following concerns raised in an International Monetary Fund (IMF) report.
According to him, the fees had already been reduced in October 2025, before the IMF report was issued.
He maintained that GoldBod’s decisions on its charges were therefore not prompted by the IMF’s assessment.
‘We have not made any losses’
The GoldBod CEO further rejected claims that the institution has been making losses through its gold trading operations.
He said GoldBod began what he described as proper gold trading in March 2026 and, so far, has not recorded any losses from those activities.
“We have been trading gold in the proper sense of gold trading since March 2026 and we have not made any losses yet,” he said.
Mr. Gyamfi also highlighted changes to GoldBod’s pricing mechanism, saying the institution had introduced a new system designed to provide greater predictability and certainty in domestic gold transactions.
He argued that the new pricing arrangement represents a departure from the uncertainties that characterised the previous Domestic Gold Purchase Programme.
“GoldBod has a new pricing system that brings about predictability and certainty, contrary to what was previously known in the Domestic Gold Purchase Programme,” he said.
Gyamfi accuses Afenyo-Markin of smear campaign
Mr. Gyamfi accused Mr. Afenyo-Markin of using GoldBod’s operations as part of what he described as a politically motivated campaign against the institution.
“Afenyo-Markin’s antics are just a desperate smear campaign,” he said.
He also criticised the Minority Leader’s comments in unusually strong terms, describing them as “fanciful effusions of a palm wine bar.”
Mr. Gyamfi further questioned the basis of Mr. Afenyo-Markin’s criticism by referring to his previous role as Board Chairman of the Electricity Company of Ghana (ECG).
“If Afenyo-Markin, who saw the ECG make a GH¢8.4 billion loss under his board chairmanship, and is neither in jail nor facing onerous bail terms, how much more me who hasn’t made any?” he asked.
The comments come amid an intensifying political debate over GoldBod’s financial performance, its relationship with the BoG and the management of Ghana’s domestic gold purchasing and trading operations.
Source: www.kumasimail.com
