Kofi Bentil, a Lawyer and Senior Vice-President of IMANI Africa, has said the establishment and operations of the Ghana Gold Board (GoldBod) are the best thing that happened to Ghana’s gold resources.
He argued that GoldBod represented an improvement over an earlier arrangement under which the Bank of Ghana (BoG) was directly involved in gold trading.
Speaking on JoyNews’ Newsfile, Kofi Bentil stated, “GoldBod is the best we’ve done so far, but it is not perfect. At that time, it was the Bank of Ghana that was trading gold through GoldBod”.
“The losses belonged on the books of Bank of Ghana. They created problems for the Bank of Ghana, and we said that wasn’t a good thing to do,” he explained.
He noted, “Today as we speak, there is a transition from that position for GoldBod to have its own capital, to do its own buying, to do its own trading, and keep the losses or the benefits on its own books”.
Mr Bentil further rejected claims that the establishment of GoldBod was itself a policy mistake.
“Anybody trying to suggest that GoldBod is a mistake is wrong. GoldBod is the best we have done with our gold resources yet,” he added.
He further added, “We should always keep the bigger picture in mind; GoldBod is a fantastic idea; it does not make sense that we are a gold mining country and we are mer in these losses.
GoldBod is a fantastic idea what ever happens, we must keep it. However, every good thing comes with its issues, and we must navigate them properly. The biggest problem right now is the heat coming out of the discussion.
Kofi Bentil further added, “For the first time in the history of this country, we have taken charge of Gold resources, and we are seeing the positive that can happen.
We cannot pretend that it will not come with any problem. My problem with the GoldBod is the heat instead of the light. We should be having an explanation; we should be having clarity about how this thing works and fix some of the problems around it. The idea was not even from this government, but they have taken it further”.
Meanwhile, the Minority Leader, Alexander Afenyo-Markin, has announced that the Minority in Parliament has filed a second motion seeking the establishment of an ad hoc committee to investigate the alleged GH¢22 billion loss linked to gold trade transactions involving the Ghana Gold Board and the Bank of Ghana.
According to Afenyo-Markin, the motion also seeks to summon the Chief Executive Officer of the GoldBod, Sammy Gyamfi, to appear before the committee if Parliament approves the request.
The Minority leader disclosed that the motion was filed and signed by several of its MPs, including Kojo Oppong Nkrumah, Tweneboah Koduah, Jerry Shaib Ahmed, Vincent Asafuah, Dr Kyei Asamoah and the Minority’s Ranking Member on the Finance Committee, Dr Mohammed Amin Adam.
Speaking on Good Evening Ghana on August 20, 2026, the Minority Leader stated, “We have filed the necessary processes. We don’t just blow hot air. My colleagues have filed the motion. We have today at 12 noon filed a motion signed by respected Kojo Oppong Nkrumah, Tweneboah Koduah, Jerry Shaib Ahmed, Vincent Asafuah, Dr Kyei Asamoah, and our ranking on finance, Dr Mohamed Amin Adam”.
“We have filed and put forward our argument. All the documents are tied there too for Speaker, who has the power of admissibility to determine admissibility,” he said.
“This is not different from the earlier one that we filed, and the same was voted on. First of all, they delayed the motion for a long time. Each time we’re going to take the motion, they will say they were not prepared. Eventually, after taking the motion, they whipped their numbers to vote against it.
“Since the chief executive has offered to come, I believe his party has heard him. We pray that the 189 majority will not stampede us,” he added.
He further called for the proceedings to be broadcast live due to the public interest and the size of the alleged loss.
“Gold Board must bring all its books. I mean, because they said they are ready. BOG must come. We would invite those we have to invite and have live coverage because 22 billion is a huge sum,” he indicated.
@ghnow_ Asamoah Gyan and brother honor their late father with a dance #GHnow #Fyp ♬ original sound – GHnow
@ghnow_ Asamoah Gyan and brother honor their late father with a dance #GHnow #Fyp ♬ original sound – GHnow
