Minority Calls GoldBod To Answer For GH¢22bn Gold Sales Loss
The Minority in Parliament has challenged the Ghana Gold Board (GoldBod) to account for an alleged GH¢22 billion loss incurred in 2025 through the domestic gold purchasing programme Read More... The post Minority Calls GoldBod To Answer For GH¢22bn Gold Sales Loss appeared first on DailyGuide Network .
The Minority in Ghana's Parliament has called on the Ghana Gold Board (GoldBod) to explain a reported loss of GH¢22 billion ($1.7 billion) incurred in 2025 through its domestic gold purchasing programme, according to a December 12 report by DailyGuide Network. Minority Leader Alexander Afenyo-Markin, addressing a press conference, stated that the loss, roughly equivalent to 1.5% of Ghana's GDP, was highlighted in the latest International Monetary Fund (IMF) report and demanded immediate answers from GoldBod.
The losses, attributed to service and assay fees, discounts on gold sold to off-takers, and significant exchange rate losses, were not attributed solely to the Bank of Ghana (BoG), despite the latter providing the financing. Afenyo-Markin questioned the allocation of risks and rewards between GoldBod and the BoG, demanding details on the prices paid for gold, the determination of those prices, premiums paid to suppliers, off-taker selection, discounts applied to gold sales, and GoldBod's fees.
He also highlighted GoldBod's decision to cease its role as the BoG's buying agent in August 2026, emphasizing that the issue demanded thorough scrutiny and public accountability.
Written by urgent.news from Daily Guide Network's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
