Sammy Gyamfi denies GoldBod caused Bank of Ghana losses, hits back at Afenyo-Markin

Sammy Gyamfi speaking during the Government Accountability Series on Wednesday, August 19, 2026 "Losses accrued on gold trades are a combination of service and asset fees paid to Gold Board, discounts on gold sold to off-takers, and most importantly, exchange rate losses from the spread between Forex Bureau rates paid to purchase gold and the cedi reference rate used for BOG accounting," he said.

Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has rejected claims by Minority Leader Alexander Afenyo-Markin that GoldBod was responsible for losses incurred by the Bank of Ghana under the Domestic Gold Purchase Programme." Mr Gyamfi further explained that the IMF identified several components behind the losses, including service and asset fees paid to GoldBod, discounts on gold sold to off-takers and, most importantly, foreign exchange losses.