‘If you sell gold at a loss, you’re not a good trader’ – Afenyo-Markin jabs Sammy Gyamfi
Minority Leader Alexander Afenyo-Markin has questioned the commercial rationale behind the operations of the Ghana Gold Board (GoldBod), taking a swipe at its Chief Executive Officer, Sammy Gyamfi, over reported losses associated with Ghana’s gold purchasing operations.
Minority Leader Alexander Afenyo-Markin has criticized the Ghana Gold Board (GoldBod) and its CEO, Sammy Gyamfi, over reported financial losses related to the board's gold purchasing operations. During an appearance on Peace FM, Afenyo-Markin asserted that a business involved in gold trading should not be experiencing losses, emphasizing the commodity's inherent value on the global market.
He remarked, "If you sell gold and make a loss, then you are not a good trader," indirectly addressing Gyamfi. This commentary arises as the Bank of Ghana's Domestic Gold Purchase Programme faces renewed controversy, with the IMF reporting a US$214 million loss associated with the program. Despite GoldBod disputing the label of a loss, Afenyo-Markin remains vocal about his concerns, warning that improper oversight could lead to a significant scandal.
He has previously cautioned about undisclosed issues within the board's operations and urged its management to exercise caution. Consequently, Afenyo-Markin's latest remarks contribute to the mounting political scrutiny surrounding GoldBod's financial affairs.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
