Minority Leader Alexander Afenyo-Markin has intensified scrutiny of the Ghana Gold Board (GoldBod), questioning how an institution established to trade in gold could reportedly record losses from its operations.
Speaking on Peace FM on Monday, August 17, 2026, Mr Afenyo-Markin argued that the commercial performance of GoldBod warranted closer examination, particularly given the high value and global demand for gold.
He questioned the rationale behind reported losses associated with Ghana’s domestic gold purchasing operations and took aim at GoldBod Chief Executive Officer, Sammy Gyamfi.
“If you sell gold and make a loss, then you are not a good trader,” he said.
The Minority Leader’s comments come amid renewed 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) has previously reported a US$214 million loss linked to the programme, although GoldBod has challenged the description of the amount as a loss incurred directly by the Board.
Despite the clarification, Mr Afenyo-Markin maintained that the financial affairs of GoldBod require closer public and institutional scrutiny.
He warned that unresolved concerns surrounding the institution could develop into a major controversy if its operations and financial transactions are not properly examined.
The Minority Leader had earlier cautioned GoldBod’s management about issues he said remained unknown to the public, urging the leadership to exercise greater care in the management of the institution.
His latest remarks are expected to further fuel political debate over GoldBod’s mandate, financial performance and the management of Ghana’s gold resources.
The controversy comes as authorities continue efforts to restructure Ghana’s gold trading sector and strengthen the country’s control over the purchase and export of gold, amid broader concerns over transparency, accountability and the financial risks associated with the domestic gold purchasing programme.
