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Assuming without admitting that the extortion allegation by Sammy Gyamfi against Hon.Alexander kwamena Afenyo-Markin has any merit, it remains irrelevant, immaterial and inconsequential to the substantive questions he raised about the reported losses. Equally, bringing GoldBod into the debate is entirely legitimate, given its central role in the Domestic...

11,584 views • 29 days ago •via X (Twitter)

16 Comments

The Financials's profile picture
The Financials29 days ago

those who goo or call for equity, must come with clean hands Boss.

Abomooh's profile picture
Abomooh29 days ago

Si we should do what?

John boye Anaba's profile picture
John boye Anaba29 days ago

I just follow u

Arko Dansoa's profile picture
Arko Dansoa29 days ago

With you! I have confidence the NPP communication will be revived! Solid submission.

AtoKwamena🌹's profile picture
AtoKwamena🌹29 days ago

Sia you all skipped thr first part which clearly said you made losses i mean economic losses in 2024. But we should only focus on the valuation cost abi

BETO🇬🇭🇦🇺 🇺🇸's profile picture
BETO🇬🇭🇦🇺 🇺🇸29 days ago

Absolutely, I agree with you. We are missing the point, the bigger picture. The question is whether or not there is a loss? Where is the loss? Could we have have made same gains with less loss.

Boateng's profile picture
Boateng29 days ago

What loss? You guys must up your game

4rina's profile picture
4rina29 days ago

Exactly! We all know Sammy is lying as is his habit .... Don't fall for it

Nana Twumasi Ankrah III's profile picture
Nana Twumasi Ankrah III29 days ago

Very impressive ✔️

Onyx Stone's profile picture
Onyx Stone29 days ago

Foolishness

Blak_InkGH🖤🇬🇭🇳🇬's profile picture
Blak_InkGH🖤🇬🇭🇳🇬29 days ago

Leader should’ve proved the losses by getting access to gold board’s books. He has that power. There are lots of channels he could’ve used to discharge his duties to the good people of Ghana. He chose his stomach, allegedly. Let’s not forget that.

Godwin snow's profile picture
Godwin snow29 days ago

Senior that journalists Kweku Asante is an NDC FRAUDSTER

MINORITY LEADER 💈's profile picture
MINORITY LEADER 💈29 days ago

@Celebra51837821 You killed it

VIRGO 🔥🔥👌👌's profile picture
VIRGO 🔥🔥👌👌29 days ago

When fine lawyers become polluted and consumed by politics, it becomes so pathetic to listen to them. What are your values if indeed you have a leader that is an extortionist (assuming it's true).? And you say what??? It's immaterial?? Where are your values Kwasi?

Dominic Ankrah's profile picture
Dominic Ankrah29 days ago

It is very relevant . It is the pain of not getting what he wanted that has led him on this rant about Sammy Gyamfi. I mean is there is merit in the allegation.

Ibrah Addo's profile picture
Ibrah Addo29 days ago

Drag him to PAC and use the IMF report to question him 🤝

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Since this GoldBod conversation refuses to go away, I joined Eric Mawuena Egbeta on #TV3GH some minutes ago to discuss it. There are factual claims that can be made, and there are inferences that can be drawn from those facts. Here are the facts: - No one can dispute the fact that the domestic gold purchasing programme helped build Ghana’s reserves and had downstream impacts on the economy, but also incurred significant losses. - No one can dispute the fact that GoldBod played a significant role in helping the Bank of Ghana implement the programme. - It is a fact that GoldBod’s financial statements do not show any of those losses. - It is also a fact that the ASM component of the DGPP was the largest component, and that is where the losses occurred. It is also the part of the programme where GoldBod predominantly operated. However, when you disaggregate the losses, the largest component came from the exchange rate at which the gold was purchased versus the exchange rate at which the resulting dollars were sold or translated. Because GoldBod purchased the gold and had to use pricing incentives (bonuses) to compete with smugglers, some of the losses can be traced to its operations. Those losses do not appear in its financial statements because GoldBod operated as an agent of the Bank of Ghana and essentially earned fees for providing the service. The government itself recognises that the losses are unsustainable, which is why it is planning to reduce the cost from around 15% to 5%. The most important issue going forward is that GoldBod now has control over the entire value chain. The conversation therefore has to be about how it can operate the chain sustainably without becoming a burden on the budget. Most importantly, how does Ghana generate meaningful fiscal revenue from the small-scale mining sector to support our development needs? And how do we do all of this while fighting galamsey and protecting our rivers and forests? We should be able to discuss these issues dispassionately without turning every question about GoldBod and reserve accumulation into a partisan argument.

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