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Minority’s concerns over GoldBod’s GH¢22 billion loss not political – Afenyo-Markin
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Minority Leader in Parliament, Alexander Afenyo-Markin, has maintained that the Minority’s concerns over the reported GH¢22 billion loss linked to the Ghana Gold Board (GoldBod) are not politically motivated.
He made the remarks at a press conference in Parliament on Tuesday, August 18, 2026, where he defended the Minority’s position on the financial implications of GoldBod’s domestic gold purchasing operations.
Mr Afenyo-Markin stated that the Minority was raising the concerns because Ghanaians deserved clear information about how public funds were used in the gold purchasing programme.
He explained that the figures being cited by the Minority were contained in the International Monetary Fund’s (IMF) report on Ghana and were therefore not figures manufactured by the opposition.
According to him, the IMF identified losses of about US$1.7 billion, equivalent to approximately GH¢22 billion, from the domestic gold purchasing programme in 2025.
He said the IMF attributed the losses to service and assay fees, discounts on gold sold to off-takers and exchange-rate differences between the rates used to purchase gold and the reference rate used by the Bank of Ghana for accounting purposes.
Mr Afenyo-Markin argued that the losses should be subjected to public scrutiny because GoldBod played a central role in buying, aggregating, assaying and exporting the gold, while the Bank of Ghana provided the financing.
He questioned why GoldBod should receive fees from the transactions while the associated losses were reflected on the books of the Bank of Ghana.
The Minority Leader stressed that the location of a loss in an institution’s accounts did not change its economic impact on the country.
He therefore called for answers on the prices paid for gold, how the prices were determined, the selection of off-takers, discounts applied to gold sales and the fees earned by GoldBod.
Mr Afenyo-Markin questioned the risk-sharing arrangement between GoldBod and the Bank of Ghana, arguing that the institution carrying out the commercial activity should not be able to benefit from transaction fees while another institution bears most of the financial risk.
He said the Minority was not seeking to trade insults with GoldBod officials but was focused on holding institutions accountable for the management of public resources.
He urged the government and GoldBod to address the concerns raised by the IMF and provide Ghanaians with clear explanations about the reported losses.
Mr Afenyo-Markin maintained that the Minority would continue to scrutinise the programme because the financial consequences ultimately affected Ghanaian taxpayers.
By: Jacob Aggrey
President John Dramani Mahama will be joining African heads of state, business leaders, investors and innovators shaping Africa’s next chapter, at the inaugural Alamein Africa Forum scheduled to take place from 2nd to 4th October 2026 in the historic city of Alamein on Egypt’s Mediterranean coast.
The three-day Alamein Africa Forum is established as a permanent African Business Forum to convene biennially in Egypt.
It is to become the continent’s premier gathering where political power meets entrepreneurial prowess, bridging the established engines of African growth with the new sectors defining its future.
Co-organised by the Government of Egypt, African Export – Import Bank (Afreximbank), the African Union and AUDA-NEPAD, it is expected to bring together more than twenty (20) heads of state and government representatives alongside business leaders, bankers and development institutions.
Ghana’s President, who on 23rd September 2026 declared Ghana is open for business in New York after ringing the ceremonial closing bell at the Nasdaq Stock Market will be leading the Ghanaian delegation, to include the Minister for Trade, Agribusiness, and Industry, Elizabeth Ofosu – Adjare, to the forum.
Other members of the Ghanaian delegation are the Head and Presidential Advisor for Ghana’s 24-Hour Economy and Accelerated Export Development Programme, Hon. Augustus Goosie Tanoh, Ghana’s Special Envoy to the Alliance of Sahel States, Colonel Larry Gbevlo – Lartey alongside key Ghanaian private sector players.
Bringing together leaders in politics, business and policy from across the continent, the Alamein Africa Forum will provide a unique opportunity to shape Africa’s growth agenda by aligning policy and investment priorities, mobilising partnerships for implementation and strengthening financing and investment pathways.
The private sector must become an integral part of Agenda 2063, the African Union’s strategic fifty-year masterplan to transform the continent. The private sector is the core economic engine required to turn the African 2063 from an aspirational government roadmap into realized infrastructure, jobs, and value-added trade.
By Chris KONEY
News
Contractors move to site to begin construction of 120-Bed Trauma Hospital at Bole – Felix Kwakye Ofosu
Minister for Government Communications, Felix Kwakye Ofosu, has revealed that contractors have moved to site to begin construction of a 120-bed Specialised Trauma and Emergency Hospital at Bole in the Savannah Region.
According to the Minister, the 16,000 square metre facility will be equipped with modern medical infrastructure to provide emergency and trauma care.
The hospital will have a 24-hour Accident and Emergency Unit, trauma resuscitation bays, emergency operating theatres, an Intensive Care Unit (ICU) and a High Dependency Unit (HDU).
It will also include specialised trauma wards, a burns treatment unit, orthopaedic and surgical units, as well as imaging and diagnostic facilities, among others.
By Edem Mensah-Tsotorme
