The Executive Secretary of the Chamber of Petroleum Consumers (COPEC), Duncan Amoah, says the performance of the Ghana Gold Board (GoldBod) should be assessed at the end of 2026, when the institution’s financial results can provide a clearer picture of its operations.
According to him, GoldBod’s ability to turn its trading capital into sustainable profits should be a key measure of its performance.
Speaking on the Big Issue on Saturday, August 22, 2026, he explained that GoldBod received its trading capital in December 2025, meaning the institution should be given time to demonstrate what it can achieve with the funds.
“I think that the best time to judge GoldBod really would be at the end of the year,” Mr Amoah said.
He said the release of the funds came later than expected and the money has since been rolled over into 2026 as part of GoldBod’s operational funds.
“So now they have trading capital as an entity. We’ll be happy to come back to this at the end of the year,” he said.
Mr Amoah said GoldBod’s profit and loss account at the end of the year would provide a more meaningful basis for determining whether the institution had succeeded.
“By close of year, you could look at their P&L and say that, look, okay, we gave you 4.5. You’re able to turn it over and arrive at 7, 10 billion until you are a profitable entity,” he said.
His comments come amid an ongoing dispute over GoldBod’s financial performance.
The Minority has alleged that the operations of GoldBod have resulted in losses of about $1.7 billion, with Minority Leader Alexander Afenyo-Markin citing an International Monetary Fund report in support of the claim.
GoldBod Chief Executive Officer Sammy Gyamfi has rejected the allegation, insisting that the board has not made losses but has instead made profits through its operations. He has described the Minority Leader’s claim as a “barefaced lie.”
Mr Amoah said the debate over GoldBod’s financial performance should ultimately be settled by the institution’s financial results and the value it delivers relative to the resources committed to it.
Source:- channelnews
