Sammy Gyamfi Has Not Disputed $1.7bn Loss –Minority
A fresh political storm has erupted over the financial legacy of Ghana’s Domestic Gold Purchase Programme (DGPP), with the Minority in Parliament insisting that the state must account for a reported GH¢22 billion loss, while Ghana Gold Board (GoldBod) Chief Executive Officer Sammy Gyamfi maintains that the figure cannot be attributed to the institution. The […] The post Sammy Gyamfi Has Not…
The financial legacy of Ghana's Domestic Gold Purchase Programme (DGPP) has become a point of contention between the minority in Parliament and Ghana Gold Board (GoldBod) CEO Sammy Gyamfi. While the minority insists that the state must account for a reported GH¢22 billion loss, Gyamfi maintains that the figure cannot be attributed to the institution.
The minority's claim is based on the International Monetary Fund's assessment of the DGPP, which put the programme's 2025 loss at US$1.7 billion, equivalent to about GH¢22 billion and approximately 1.5 per cent of Ghana's GDP. Gyamfi, however, argues that the losses associated with the DGPP predated the current GoldBod administration and that the institution showed an operational surplus of GH¢907 million and an overall surplus exceeding GH¢5.4 billion in its 2025 financial statements.
The debate has been further fueled by disagreements over the role of government grants and fees in GoldBod's operations, with the minority accusing Gyamfi of using "crude insults, selective quotations and an accounting diversion."
Brief written by urgent.news from The Chronicle Ghana's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
