GoldBod Has Not Made Losses — NDC’s Alexander Ackuokoh Fires Back at NPP
NDC former parliamentary aspirant for Bortianor Ngleshie Amanfro , Alexander Ackuokoh, has strongly rejected claims that the Ghana Gold Board (GoldBod) has incurred losses, accusing the opposition NPP of misrepresenting the International Monetary Fund’s (IMF) comments on the state-backed gold trading institution.
In a discussion at Kessben Maakye show in Accra, Ackuokoh said, the debate surrounding GoldBod has been driven by what he described as a “predetermined” attempt to portray the institution negatively.
“A predetermined mind is difficult to convince,” he said, arguing that there is no basis for the NPP to treat the IMF’s statement on GoldBod as though it were a major indictment.
Ackuokoh insisted that GoldBod has not run into losses, stressing that the IMF did not state that the institution had made losses.
He explained that the issue concerns losses associated with operational cost or accounting treatment, rather than GoldBod itself being a loss-making institution.
The NDC parliamentary aspirant further cited the Auditor-General’s report on GoldBod’s 2025 operations, claiming that the institution recorded a surplus of about GH¢5.5 billion.
He questioned why GoldBod should be judged primarily on profit-making when, according to him, the institution was established to help build Ghana’s gold reserves and contribute to financial-sector stability.
Ackuokoh also took aim at former Deputy Finance Minister and current Public Accounts Committee Chairperson Abena Osei Asare, accusing her of engaging in speculation over GoldBod.
He argued that such claims amount to an attempt to mislead the public.
According to him, Ghanaians should instead compare the benefits of GoldBod’s operations with the debt burden associated with what he described as former Finance Minister Ken Ofori-Atta’s “reckless” Eurobond borrowing.
Ackuokoh further argued that GoldBod’s activities are already contributing to greater stability in the local currency.
“Gone are the days that our cedi was running like Usain Bolt,” he said, suggesting that the current stability of the cedi should also be assessed against the impact of GoldBod’s operations.
He maintained that the focus should not be on labelling operational difficulties as losses but on finding practical solutions to challenges confronting GoldBod.
“The issue is how to resolve operational difficulties and not to consider it as a loss,” he stressed.
Ackuokoh’s comments come amid growing political debate over GoldBod’s financial performance, mandate and impact on Ghana’s economy, with the NPP and government supporters offering sharply contrasting interpretations of the institution’s performance.
