GoldBod Chief Executive Officer, Sammy Gyamfi, has defended the performance of the Ghana Gold Board (GoldBod) following criticism of its operations and management.
Speaking at tthe Government Accountability Series today at the Jubilee House, he said, no where is GoldBod accused for Bank of Ghana’s losses.
He therefore challenged the Minority Leader, Alexander Afenyo-Markin to point to where IMF attributed losses incurred by Bank of Ghana to GoldBod.
“I challenge Afenyo-Markin to point to any page, paragraph, sentence, phrase or punctuation mark in the said referenced report that the IMF accused the GoldBod of having caused the losses reported to have been incurred by the Bank of Ghana,” Sammy Gyamfi strongly stated.
He highlighted the achievements of the board, particularly its role in gold purchases, local refining and efforts to increase value addition in Ghana’s gold industry.
Mr Gyamfi said GoldBod had purchased and refined more than nine metric tonnes of gold in Ghana this year, describing the development as a major change in the country’s approach to gold value addition.
He contrasted the current situation with the previous administration, claiming that during that period, no gold produced in Ghana was refined locally.
“Not a gram of gold produced in Ghana was refined in Ghana. Today, over nine metric tonnes, just this year, of gold we have bought, refined in Ghana. We are changing the value addition story,” he said.
Mr Gyamfi defended the board against criticisms from the Minority that it had made losses, describing some of the comments as reckless and lacking proper research.
He argued that the current Minority leadership should be measured against the standards set by former occupants of the position, including J.H. Mensah, Papa Owusu-Ankomah and Osei Kyei-Mensah-Bonsu.
According to him, the former Minority leaders commanded respect in Parliament because of the depth of their contributions and their ability to engage issues with substance.
Mr Gyamfi referenced Ghana’s gold exports under the previous administration, claiming that about 170 tonnes of gold were exported through formal channels and generated more than $17 billion in one and a half years.
He questioned why those responsible for institutions that recorded significant losses during their tenure were criticising GoldBod’s current operations.
He further dismissed suggestions that he was intimidated by political attacks, noting that politics was a “contact sport” and those involved should be prepared to face criticism.
Mr Gyamfi maintained that he was working in the interest of Ghana and expressed confidence that the board’s record would ultimately speak for itself.
“We are serving Ghana in good conscience, and our record and posterity will speak for us,” he said.
By: Jacob Aggrey
