GoldBod loss denial is 'technical sleight of hand' – Akosua Manu

A leading Ghanaian political advisor, Akosua Manu, has dismissed GoldBod CEO Sammy Gyamfi's claim that the minority leader, Alexander Afenyo-Markin, was wrong to attribute financial losses to the Domestic Gold Purchase Programme (DGPP). In a Facebook post, Manu argued that Gyamfi's assertion was a "technical sleight of hand" designed to distract from the financial losses associated with the DGPP.

She explained that the losses were not GoldBod's responsibility, but those of the Bank of Ghana (BoG), which provided the financial backing for the gold purchases during the period. Manu highlighted that the IMF report cited by Afenyo-Markin documented losses of over $1.7 billion in 2025, equivalent to 1.5% of Ghana's GDP. She noted that although the losses were recorded on the BoG's balance sheet, the central bank had absorbed the financial burden of the program's operations.

Manu emphasized that it was incorrect to claim that GoldBod was not responsible for the losses, as the BoG had provided the financial resources for the program. She also pointed out that the DGPP was scheduled for full transfer to GoldBod from July 1, 2026, making Gyamfi's claim even more specious. Gyamfi had previously dismissed the minority leader's claim, stating that the International Monetary Fund report cited by Afenyo-Markin did not accuse GoldBod of causing any losses to the BoG.

He argued that the timeline contradicted the minority leader's assertion and questioned why GoldBod should be held responsible for losses incurred by the BoG in previous years. Manu's statement challenges Gyamfi's narrative and underscores the importance of basing claims on factual evidence rather than spin.