Sammy Gyamfi, the Chief Executive Officer of the Ghana Gold Board (GoldBod), has bitten back at Minority Leader Alexander Afenyo-Markin over his recent claims.
According to Sammy Gyamfi, Afenyo-Markin is a joke of a Minority Leader.
Sammy Gyamfi fired shots at Afenyo-Markin for his blatant lie that the GoldBod has made losses, stressing that it is a figment of the Minority Leader’s hallucinatory imagination.
The GoldBod CEO also cited page 16 of the audited Annual Report and Financial Statements for the year ended December 31, 2025, detailing that GoldBod recorded an operational surplus of GH¢907 million and an overall surplus of GH¢5.4 billion.
In a post on X, Sammy Gyamfi wrote, “The blatant lie being persistently peddled by Afenyo Markin that the GoldBod has made losses is only a figment of his hallucinatory imagination. What a joke of a Minority Leader he is.
Find attached page 16 of the audited Annual Report and Financial Statements of the @GhanaGOLDBOD for the year ended 31st December, 2025, disclosing an operational surplus/profit of GHS907 million and overall surplus/profit of GHS5.4 billion.
For the avoidance of doubt, this audit report was prepared and published by the Auditor-General of the Republic of Ghana. Facts are sacrosanct”.
His comment follows, Afenyo-Markin who jabbed Sammy Gyamfi, over reported losses associated with Ghana’s gold purchasing operations.
The minority leader argued that Goldbod, which engaged in gold trading, should not be making losses due to the nature of the commodity and its value on the international market.
According to Afenyo-Markin, Sammy Gyamfi is not a good trader following the loses incured by Goldbod.
Speaking on Accra-based Peace FM, Afenyo-Markin stated, “If you sell gold and make a loss, then you are not a good trader”.
His comments follow the financial losses of the Bank of Ghana’s Domestic Gold Purchase Programme, which is implemented through GoldBod.
The IMF reported a US$214 million loss linked to the programme, although GoldBod has disputed characterising the figure as a loss incurred by the Board itself.
Also, the Minority Leader has said there is a big scandal awaiting Ghanaians at the Ghana Gold Board (GoldBod).
According to Afenyo-Markin, there are aspects of GoldBod’s operations that are not publicly known and cautioned its management against taking its current position for granted.
Afenyo-Markin stated, “GoldBod is a very big scandal awaiting us. There are things we know that they don’t know. They should be careful”.
Similarly, Afenyo-Markin has said he will praise the Ghana Gold Board (GOLDBOD) if the institution is performing well.
According to Afenyo-Markin, his constant criticism of GOLDBOD should not be seen as envy or bitterness because he is willing to acknowledge them if they are doing well.
The minority leader argued that the IMF are the one saying Goldbod made losses, not him.
Afenyo-Markin stated, “I don’t envy success because I have seen success. I celebrate success, so I don’t envy success. If GOLDBOD is doing well, I will be one of the few or one of the many who would come and praise GOLDBOD, but GOLDBOD is failing. GOLDBOD is failing”.
“It’s not me who is saying it. It is the IMF that is saying it. The IMF is saying that the gold purchase program has led to a total of 22 billion in losses,” he indicated.
He further disclosed that when the GOLDBOD aggregators were initially paid a 15% fee, which was later reduced after the Minority raised concerns.
“When they engage these aggregators who provide them with the gold, they started by paying them 15%. When the minority raised this concern, immediately GOLDBOD and the Bank of Ghana held an emergency board meeting and reviewed the fees to 9%. That is the first point that the minority was vindicated,” he stated.
“When we raised the issue on the floor, they did a further review from 9% to 5% then, eventually, the governor announced an exit by saying that the Bank of Ghana will not finance that transaction again,” he noted.
Afenyo-Markin added, “So, it would be wrong for you to describe me as ignorant, petty, or bitter. Because if what I am saying is not true, why did you review the fees from 15% to 9%?”
“What they are doing now is that they are even budgeting, putting in the 2027 budget, the costs of financing this gold purchase program. We are yet to see the figures,” he said.
“We do not want anybody to attempt to trivialise it. Then, people will be hired on social media to go and insult Afenyo-Markin,” he warned.
See the post below:
The blatant lie being persistently peddled by Afenyo Markin that the GoldBod has made losses, is only a figment of his hallucinatory imagination. What a joke of a Minority Leader he is.
— Sammy Gyamfi (@SammyGyamfi_) August 17, 2026
Find attached, page 16 of the audited Annual Report and Financial Statements of the… pic.twitter.com/oOHaEkZstZ
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