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Minority replies Sammy Gyamfi, demands accountability over GH¢22bn GoldBod loss

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The Minority in Parliament has renewed its call for accountability over a reported GH¢22 billion loss under the Domestic Gold Purchase Programme (DGPP) in 2025.

The Minority Leader, Alexander Afenyo-Markin, made the call in a statement issued on Wednesday, August 19, 2026, in response to comments by the Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi.

The Minority said the GoldBod’s response to its earlier concerns did not disprove the reported loss but instead confirmed some of the figures it had raised.

According to Mr Afenyo-Markin, the International Monetary Fund (IMF) reported a loss of US$1.7 billion, equivalent to about GH¢22 billion, under the DGPP in its August 2026 Sixth Country Report.

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He argued that regardless of which government institution bears responsibility for the loss, the money involved was public funds and must be accounted for.

The Minority also questioned GoldBod’s reported operational surplus of GH¢907 million.

It noted that, according to the GoldBod CEO, the institution accounted for about GH¢133 billion in advances under the programme in 2025 and received an assay fee of 0.258 per cent and a service fee of 0.5 per cent.

Mr Afenyo-Markin argued that these fees generated about GH¢1 billion for GoldBod.

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He therefore questioned how the institution could describe its GH¢907 million operational surplus as a major achievement when the programme under which the fees were earned reportedly resulted in a GH¢22 billion loss to the state.

The Minority Leader further argued that GoldBod could not claim credit for the benefits of the DGPP while distancing itself from the reported financial losses.

He noted that GoldBod had been associated with claims that the programme contributed to a 41 per cent appreciation of the cedi, an increase in Ghana’s reserves from US$8.9 billion to US$13 billion and a reduction in inflation.

According to him, an institution that takes credit for such outcomes must also be prepared to account for the costs associated with the programme.

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The Minority also raised concerns about the funding arrangements for the Gold for Reserves and related programmes.

It said, based on the GoldBod CEO’s account, responsibility for the implementation cost of the Ghana Alternative Reserves and Assets Programme (GANRAP) shifted from the Bank of Ghana to the Ministry of Finance in July 2026, while GoldBod was seeking to raise funds independently from August.

Mr Afenyo-Markin described the changes as evidence that the funding model was yet to be settled.

He therefore called for the reported GH¢22 billion loss to be properly accounted for, insisting that the matter concerned the finances of the Republic.

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The Minority Leader also criticised comments attributed to the GoldBod CEO during his response, particularly a reference to a brothel.

He argued that such language was inappropriate for a public official responding to questions about the management of public funds.

“Ghanaians asked for figures. They were given insults. The figures are still outstanding,” Mr Afenyo-Markin stated.

The Minority said it would continue to demand answers on the financial and operational performance of GoldBod and the Domestic Gold Purchase Programme.

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By: Jacob Aggrey

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Egypt to host inaugural Alamein Africa Forum in new Coastal Smart City

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Egypt will host Africa’s new flagship business summit this October, as leaders from across the continent converge in the newly built smart city of New Alamein for the inaugural Alamein Africa Forum.

The forum is scheduled for October 2-4, 2026 in New Alamein, Egypt’s fourth-generation coastal megacity.

The city combines advanced infrastructure, modern residential districts, international universities, cultural landmarks, and major tourism and investment projects under one master plan.

Dubbed “the continent’s premier gathering where political power meets entrepreneurial prowess,” the forum is expected to bring together over 20 African Heads of State and Government, senior leaders from leading international and regional financial institutions, and key players driving transformation across Africa’s most critical sectors.

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Co-organised by the Government of Egypt, African Export-Import Bank, and AUDA-NEPAD, the Alamein Africa Forum is designed as a permanent biennial platform to advance strategic partnerships and unlock investment across Africa and global markets.[Afreximbank]

The agenda will focus on sectors defining Africa’s future: infrastructure, energy, digital transformation, manufacturing, critical minerals, health markets, and intra-African trade*.

The programme will feature high-level plenary sessions, sector-focused panels, closed-door roundtables, and structured B2B and B2G meetings aimed at facilitating concrete deals and long-term partnerships.

Special sessions will also highlight Egypt’s role as a regional hub and gateway to African markets.

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The inaugural forum will be held in parallel with the 2026 African Union Mid-Year Coordination Meeting and the 33rd Annual Meetings of Afreximbank.

Organizers say the forum will serve as a launchpad to translate the African Union’s 50-year strategic master plan, Agenda 2063, into concrete projects, policies and partnerships that will define Africa’s economic trajectory for the next decade.

“In an era of shifting alliances and rising volatility, Africa can no longer afford to be a bystander in decisions that shape its own economic future,” organizers stated.

The forum aims to place the private-sector agenda at the heart of AU decision-making, lower investment risk, unlock capital, and build cross-border partnerships to strengthen Africa’s resilience to external shocks.

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Located on Egypt’s Mediterranean coast, New Alamein represents Egypt’s vision for smart, sustainable urban development. Hosting the forum there is expected to showcase the city as both a symbol of African modernization and a hub for investment and innovation.

By bringing public and private sector leadership into one alliance, the Alamein Africa Forum is positioned to become Africa’s go-to space for turning commitments into implementation.

By Chris KONEY, for Egyptian Embassy, ACCRA.

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Gomashie urges Bono Region to leverage culture and tourism for growth

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Tourism, Culture and Creative Arts Minister, Abla Dzifa Gomashie, has called on stakeholders in the Bono Region to raise the bar on professionalism and patriotism if the region is to unlock its full tourism potential.

Speaking during a familiarisation tour of the region, the Minister met with staff of the Centre for National Culture (CNC) and Metropolitan, Municipal and District Chief Executives (MMDCs).

The engagement focused on how to position Bono as a leading cultural and tourism destination in Ghana.

Gomashie challenged public institutions to take a cue from the private sector by improving service delivery and embracing efficiency.

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“Our institutions must be intentional about the way we serve the public,” she said, adding that “We need stronger collaboration and public-private partnerships to attract the right investment and build the tourism infrastructure that will make Bono competitive.”

The Minister urged MMDCs to work hand-in-hand with the Ministry and its agencies to identify, develop and promote key tourist attractions in their districts.

She also stressed the importance of preserving cultural heritage while creating an enabling environment for investors in tourism, culture and the creative arts.

The Minister added that “Tourism is not just about beautiful sites. It is about stories, about our heritage, and about the opportunities we create for our people.”

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“This work we do today is not for ourselves alone. It is for Ghana and for generations yet unborn,” she noted.

Dzifa Gomashie further called on all stakeholders to build on the foundation inherited from previous leaders and leave behind a stronger, more vibrant sector.

The tour forms part of the Ministry’s efforts to decentralize tourism development and ensure every region benefits from Ghana’s growing creative economy.

By Edem Mensah-Tsotorme

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