‘GoldBod is a very big scandal awaiting us’ – Afenyo-Markin
Minority Leader Alexander Afenyo-Markin has warned that the operations of the Ghana Gold Board (GoldBod) could become a major scandal, urging the institution to exercise caution in its activities. The Effutu MP suggested that there were aspects of GoldBod’s operations that were not publicly known and cautioned its management against taking its current position for […]
Minority Leader Alexander Afenyo-Markin has raised concerns that the Ghana Gold Board, commonly referred to as GoldBod, may soon become embroiled in a significant scandal. The Effutu Member of Parliament (MP) has urged the institution to exercise caution in its operations, emphasizing that there are undisclosed aspects of GoldBod's activities that need to be addressed.
Afenyo-Markin's warning is particularly relevant in the light of recent revelations contained in an International Monetary Fund (IMF) report, which has disclosed substantial losses incurred under the Bank of Ghana's Domestic Gold Purchase Programme, a program overseen by GoldBod.
The IMF Country Report No. 26/213 has revealed that the losses from this programme in 2025 were much higher than initially reported, amounting to over US$1.7 billion, or approximately 1.5% of Ghana's Gross Domestic Product (GDP). This figure significantly exceeds the previously stated US$214 million. Afenyo-Markin's comments come amid mounting scrutiny of GoldBod's operations, sparked by the growing awareness of the financial implications of the gold purchasing programme.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
