Afenyo-Markin accuses GoldBod management of ‘crass incompetence’ over alleged losses
Minority Leader and Effutu Member of Parliament, Alexander Afenyo-Markin, has accused the management of the Ghana Gold Board (GoldBod) of gross incompetence, following claims about losses associated with its operations.
Ghana's Minority Leader, Alexander Afenyo-Markin, has blasted the management of the Ghana Gold Board (GoldBod) for their alleged financial losses, describing their alleged incompetence. In a press conference on Tuesday, August 18, Mr Afenyo-Markin dismissed the suggestion that the losses could be due to unfavorable market conditions, insisting that gold trading does not present a difficult market for a competent institution.
He argued that the losses are not a result of bad luck or challenging market conditions, but rather a clear indication of the GoldBod's management's incompetence and the government's misaligned policies.
Mr Afenyo-Markin also criticized the lack of oversight of GoldBod, suggesting that the institution's handling of the country's gold resources raises serious concerns about accountability. He stated, "No serious institution loses this money by accident. This is what happens when an untouchable few are handed the nation's gold with no one watching."
The comments come after GoldBod's CEO, Sammy Gyamfi, rejected earlier claims that the institution had incurred losses, calling the assertion a "blatant lie" and a product of Mr Afenyo-Markin's "hallucinatory imagination". Mr Gyamfi pointed to GoldBod's audited 2025 financial statements, which showed an operational surplus of GH¢907 million and an overall surplus of GH¢5.4 billion, as published by the Auditor-General.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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