Afenyo-Markin: Minority Group Responsible for Ghana GoldBod Fee Reductions

Minority Leader Alexander Afenyo-Markin has stated that the Minority Caucus should be commended for its oversight of the Ghana Gold Board (GoldBod), claiming its interventions successfully protected public funds.

​Speaking to journalists on Tuesday, August 18, Afenyo-Markin highlighted the caucus's role in challenging GoldBod’s operational costs. He pointed out that the agency’s fees originally stood at 15% before being lowered to 9%, and eventually reduced to 5%.

​According to the Minority Leader, the initial reduction occurred after the caucus raised concerns, prompting an emergency meeting between the board of GoldBod and the Bank of Ghana. He noted that the fees were cut further to 5% after the Minority raised the issue on the floor of Parliament.

​Afenyo-Markin questioned why the charges were adjusted if the original 15% rate was justified, arguing that the reduction proves the Minority’s efforts saved public funds and did not warrant public criticism or political attacks.

​He added that the Minority’s scrutiny regarding GoldBod’s reported $1.7 billion loss under its 2025 gold purchasing program was driven by financial accountability rather than political motives.

Credit: Citi Newsroom