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GoldBod disputes GH¢22bn loss claims amid push for parliamentary probe
A political and financial dispute has emerged in Ghana regarding the Ghana Gold Board (GoldBod) and its Domestic Gold Purchase Programme (DGPP). The Parliamentary Minority, led by Alexander Afenyo-Markin, is demanding accountability for a reported US$1.7 billion (approximately GH¢22 billion) loss in 2025, citing International Monetary Fund (IMF) assessments that describe the program as a quasi-fiscal loss equivalent to 1.5% of Ghana's GDP.
GoldBod CEO Sammy Gyamfi has rejected these claims, describing them as misleading. Gyamfi asserts that GoldBod recorded an operational surplus of GH¢907 million and an overall profit of GH¢5.4 billion for the 2025 financial year, according to audited statements. He argues that the IMF's reported losses should be attributed to the Bank of Ghana rather than GoldBod.
In response to the ongoing controversy, the Minority has filed a motion to establish an ad hoc committee to investigate the Gold-for-Reserves Scheme, covering its governance, financial performance, and potential risks of acquiring illegally sourced gold. Meanwhile, GoldBod has signaled a move toward greater financial independence, reporting that it has raised over US$450 million from commercial banks and offtakers since March 2026, reducing its reliance on the central bank.
Entities
Alexander Afenyo-Markin · Bank of Ghana · Ghana Gold Board · GoldBod · International Monetary Fund · Parliament of Ghana · Sammy Gyamfi
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] The IMF identified the Domestic Gold Purchase Programme as a quasi-fiscal loss amounting to GH¢22 billion in 2025, roughly 1.5% of Ghana's GDP. www.ghanamma.com · www.mynewsgh.com
- [○ 1 SOURCE] GoldBod raised over US$450 million from commercial banks and gold offtakers since March 2026. digitalchew.com
- [DISPUTED] GoldBod recorded an operational surplus of GH¢907 million and an overall profit of GH¢5.4 billion for the 2025 financial year. ghanaiantimes.com.gh · thechronicle.com.gh
- [○ 1 SOURCE] The Parliamentary Minority has filed a motion to investigate the Gold-for-Reserve Scheme.
- [● 5 SOURCES] The IMF reported a US$1.7 billion (approximately GH¢22 billion) loss under the Domestic Gold Purchase Programme in 2025. www.gbcghanaonline.com · www.adomonline.com · www.mynewsgh.com · thechronicle.com.gh · www.myjoyonline.com
- [○ 1 SOURCE] GoldBod claims the IMF attributed the losses to the Bank of Ghana rather than GoldBod itself. ghanaiantimes.com.gh