Ghana news briefing
GoldBod had to ‘pay more’ to beat Indians, Chinese in Ghana’s gold market – Manteaw
Co-Chair of the Ghana Extractive Industries Transparency Initiative (GHEITI), Dr Emmanuel Steve Asare Manteaw, says the financial losses recorded by the Ghana Gold Board (GoldBod) must be viewed within the context of the highly competitive gold market it entered.
Gold Board was buying at market price, in fact, using the forex rate, I mean the forex bureau rate, which was far higher than the Bank of Ghana rate,” he said.
He said foreign buyers were purchasing Ghanaian gold at a discount, while GoldBod was buying at market price.
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