The Minority Leader, Alexander Afenyo-Markin, has issued a warning that officials responsible for managing the Ghana Gold Board (GOLDBOD) will ultimately be held accountable for reported losses associated with the Bank of Ghana’s Domestic Gold Purchase Programme (DGPP). Speaking to journalists on Tuesday, August 18, Afenyo-Markin, who represents Effutu, stated that the parliamentary Minority will continue to demand explanations regarding what it views as significant financial losses to the state.
“The Minority will state this firmly and boldly. It doesn’t matter what adjectives you use to attack our character. We know that a day of reckoning will come. They should remember that post-regime accountability awaits them,” Afenyo-Markin said.
His comments follow an August 2026 review by the International Monetary Fund (IMF), which reported that the DGPP, executed through GoldBod, incurred losses exceeding $1.7 billion in 2025. The IMF indicated that these losses were equivalent to about 1.5 percent of Ghana’s Gross Domestic Product (GDP). Afenyo-Markin emphasised that the Minority would not be discouraged by criticism over its oversight of GoldBod and would continue to press the government and the institution for answers.
He also warned officials currently responsible for the programme that their decisions could be subjected to scrutiny in the future. The Minority Leader’s comments come amid a growing political dispute over GoldBod’s financial performance and the treatment of losses associated with the domestic gold purchasing programme.
GOLDBOD Chief Executive Officer Sammy Gyamfi has rejected claims that the institution itself recorded losses, pointing instead to its audited 2025 financial statements, which he said showed an operational surplus of GHC907 million and an overall surplus of GHC5.4 billion.
The competing claims have intensified debate over how the DGPP’s financial results should be accounted for and who should bear responsibility for losses incurred under the programme.
Source: Jonathan Ofori
