Minority demands accountability over GH¢22bn domestic gold purchase loss

The Minority in Ghana's Parliament has once again called for accountability regarding financial losses of approximately GH¢22 billion incurred through the Domestic Gold Purchase Programme (DGPP) in 2025. In a statement released on August 19, 2026, Minority Leader Alexander Afenyo-Markin expressed disappointment with the Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, for his response to the concerns raised.

Gyamfi's response, the Minority argued, did little to address the financial and operational issues associated with the programme. The statement emphasized that Gyamfi did not challenge the International Monetary Fund's (IMF) report of a US$1.7 billion loss, which translates to about GH¢22 billion, under the DGPP in 2025. The Minority questioned the responsibility for these losses and the need for proper accounting of public funds.

Additionally, the Minority expressed dissatisfaction with the fees GoldBod received under the programme, claiming that these fees amounted to about GH¢1 billion while the institution reported a surplus of GH¢907 million. The Minority insisted that GoldBod could not claim positive economic outcomes linked to the DGPP while simultaneously distancing itself from the financial losses.

The statement also highlighted the need for clarity in funding arrangements for the Ghana National Artisanal and Small-Scale Mining Roadmap Programme (GANRAP), noting that responsibility for GANRAP's implementation costs shifted from the Bank of Ghana to the Ministry of Finance in July 2026. The Minority criticized the lack of a clear funding model and called for the reported financial loss to be accounted for, as it represents a loss to the Republic.

They also criticized the tone of GoldBod's response, particularly a reference to a brothel, deeming it inappropriate for a public officer addressing issues involving public funds.