“It Is Only Witchcraft That Will Make You Speak Against an Outfit that brought in $17bn in 1.5 years

Policy analyst and former presidential candidate Dr. Kofi Asamoah-Siaw has rejected criticisms of the Ghana Gold Board, arguing that its reported financial inflows demonstrate a significant achievement within a relatively short period.

In an Official Facebook Post shared by Zetta Ghana on August 20, 2026, Asamoah-Siaw said GoldBod had generated $17 billion in 18 months. He wrote: “GoldBod brought in $17bn in 1.5 years. It is only witchcraft that will make you speak against it.”

The statement was made against the background of an ongoing debate over the Domestic Gold Purchase Programme. Minority Leader Alexander Afenyo-Markin and other critics have raised allegations of GH¢22 billion in losses connected to the programme.

Rather than focusing on the alleged losses, Asamoah-Siaw drew attention to the amount of money he said GoldBod had brought into the country. His argument appears to be that the reported inflows represent an important economic contribution that deserves recognition.

The strong language used in his post also reflects the deep division surrounding GoldBod. Supporters of the institution see the reported financial inflows as a sign of success, while critics have questioned the programme’s costs, risks and overall financial management.

The conflicting positions highlight the need to examine both sides of the debate. The volume of money generated or mobilised is an important consideration, but so are the costs involved, pricing arrangements, discounts, payments to off-takers and the sustainability of the programme.

Asamoah-Siaw’s comments therefore add another perspective to the controversy. While he believes GoldBod’s reported achievements should not be dismissed, the wider debate continues to centre on whether the institution’s gains can be fully reconciled with concerns about losses and accountability.

His defence ultimately calls for greater recognition of GoldBod’s reported contribution while leaving room for continued scrutiny of its financial performance and operations.

Source: Zetta Ghana, Official Facebook Post, 20 August 2026