Advisor on Gender and Social Protection to NPP flagbearer Dr Mahamudu Bawumia, Akosua Manu, has challenged GoldBod Chief Executive Officer Sammy Gyamfi’s dismissal of claims that the government’s Domestic Gold Purchase Programme (DGPP) incurred losses exceeding $1.7 billion.
Ms Manu argued that Mr Gyamfi’s demand for Minority Leader Alexander Afenyo-Markin to identify a page in GoldBod’s accounts showing the alleged loss failed to address where the financial burden of the programme was ultimately recorded.
In a Facebook post on Wednesday, August 19, she said the argument amounted to a “technical sleight of hand” designed to divert attention from the financial implications of the DGPP.
She cited the IMF Ghana Country Report, particularly paragraphs 13 and 14, which she said documented losses of more than US$1.7 billion in 2025, equivalent to 1.5 per cent of Ghana’s Gross Domestic Product.
According to Ms Manu, although the losses appeared on the Bank of Ghana’s balance sheet, the central bank provided the financial backing for gold purchases under the programme, while GoldBod was responsible for executing the transactions.
She further pointed to references in the IMF report to service and assay fees paid to GoldBod, arguing that these formed part of the financial costs associated with the programme.
“Claiming victory because the loss sits on the Central Bank’s balance sheet while the operations were run under GoldBod is textbook gaslighting,” she said.
Ms Manu maintained that the location of the loss on the accounts should not be used to dismiss concerns about the programme’s overall financial performance and its implications for the state.
“You cannot run a programme, pile up over $1.7 billion in losses for Ghanaian taxpayers and the BoG, and then pretend the numbers don’t belong to you,” she added.
She also noted that the Domestic Gold Purchase Programme was scheduled to be fully transferred to GoldBod from July 1, 2026.
The comments come amid an escalating political dispute over the financial performance of GoldBod and the Domestic Gold Purchase Programme, with the two sides offering contrasting interpretations of where the reported losses should be attributed.
Ms Manu urged the public to focus on the underlying financial figures and the findings contained in the IMF report rather than what she described as attempts to divert attention from the losses.
“FACTS OVER SPINNING. That lie should be rejected!” she said.
