Afenyo-Markin accuses GoldBod of mismanaging Ghana’s gold resources

Minority Leader Alexander Afenyo-Markin has harshly criticized the Ghana Gold Board (GoldBod), alleging the organization is mismanaging Ghana's valuable gold resources. Speaking at a press conference held by the Minority in Parliament on Tuesday, August 18, Afenyo-Markin accused GoldBod's management of incompetence, asserting the reported financial losses cannot be attributed to market conditions.

The MP stated that trading in gold does not typically result in losses, arguing the financial performance indicates deeper issues within the institution. He further blamed the government's policies for the financial woes, claiming they are not aligned with the nation's best interests. "These losses are not bad luck. You don’t trade in gold and make losses.

They are not a difficult market," Afenyo-Markin said. The Minority Leader also raised concerns about oversight and accountability, suggesting a small group of individuals have been given extensive control over Ghana's gold reserves without sufficient oversight. "This is what happens when an untouchable few are handed the nation’s gold with no one watching," he remarked.

GoldBod's CEO, Sammy Gyamfi, has publicly refuted these allegations, insisting the organization posted an operational surplus of GH¢907 million and an overall surplus of GH¢5.4 billion in its 2025 audited financial statements. These figures were published by the Auditor-General in an audit report.