Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has dismissed what he describes as continuing attacks by Minority Leader Alexander Afenyo-Markin, saying they will not distract the institution from its mandate.

Mr Gyamfi characterised the allegations against GoldBod as part of a “desperate smear campaign” driven by what he described as political blackmail and the deliberate recycling of claims without sufficient evidence.

Speaking at Government Accountability Series, he said the Ghanaian public deserved serious discourse based on facts, evidence and truth rather than repeated allegations intended to create a false impression.

“The Ghanaian people deserve serious public discourse founded on facts, evidence, truth, and not endless recycling of fossils in the hope that repetition will lend credibility and turn fiction to facts,” he said.

Mr Gyamfi further accused his critics of using what he described as “sophistry and political blackmail” in pursuit of selfish interests.

He maintained that GoldBod would continue to account transparently for its activities and stewardship, insisting that the institution would remain focused on creating value for Ghanaians from the country’s gold resources.

“GoldBod will remain focused on its mandate. We will continue to account transparently for our stewardship, and we will not be distracted from the important work of creating value for the Ghanaian people from the exploitation of the gold resources of our beloved nation,” he stated.

His comments come amid an ongoing political and public debate over the management of Ghana’s gold resources and allegations surrounding the operations and financial performance of the GoldBod and the Bank of Ghana’s Domestic Gold Purchase Programme.

The Ghana Gold Board (GoldBod) has introduced a new mandatory requirement for determining the purity of gold purchased in Ghana, directing all licensed gold buyers and aggregators to adopt X-Ray Fluorescence (XRF) assay as the standard method from September 1, 2026.

The directive is contained in a Compliance Notice dated August 17, 2026, issued by the Compliance Directorate of GoldBod as part of the Board’s regulatory mandate over Ghana’s gold trade.

Under the new arrangement, XRF assay will become the standard basis for determining the purity of all gold doré purchased by GoldBod and its licensed buyers. The move effectively means the water density method will no longer be accepted as the definitive basis for determining gold purity.

GoldBod has strongly advised all licensed gold buyers to acquire suitable XRF devices for testing and determining the purity of gold doré at the point of purchase.

The Board further requires buyers to ensure that personnel operating the equipment are properly trained and that appropriate records of all XRF measurements are maintained for every purchase.

The requirement is consistent with GoldBod’s existing licensing framework, which provides for appropriate assay and weighing equipment, including XRF analysers certified for precious-metal analysis. Licensed operators are also expected to maintain their equipment properly and keep calibration records.

GoldBod has, however, made provision for situations where a licensed buyer genuinely cannot acquire or use an XRF device because of operational or logistical constraints.

In such circumstances, the water density method may still be used, but the purity obtained through that method will be treated as indicative only, rather than as the final determination.

GoldBod recommends that where the water density method is used, the gold doré should be purchased at a minimum purity discount of 0.5 per cent from the purity determined through the water density test.

The gold will subsequently be assessed by GoldBod using XRF, and the Board’s XRF result will constitute the basis for the final determination of purity and payment for the transaction.

GoldBod has therefore urged licensed buyers to make acquiring XRF equipment a priority to minimise discrepancies associated with indicative purity measurements.

The directive extends beyond individual licensed buyers to licensed aggregators.

GoldBod has directed all licensed aggregators to acquire appropriate XRF machines and deploy them to their respective Tier 2 and Tier 1 buyers, including sub-aggregators.

The objective is to facilitate accurate and consistent determination of gold purity as close as possible to the source of purchase.

The Board has previously indicated that transforming assaying practices within the artisanal and small-scale mining supply chain is important for improving quality control and reducing potential fraud associated with traditional testing methods.

The Compliance Notice also introduces a specific tolerance level for comparing successive XRF reports for the same gold or transaction.

GoldBod has directed licensed buyers to apply an appropriate purity deviation or splitting limit when comparing XRF results.

The permissible difference between one XRF report and another must remain within plus or minus 0.05 per cent (±0.05%).

Where the purity difference exceeds that limit, the transaction must undergo further verification and reconciliation before it is concluded or reported to GoldBod.

GoldBod says the new requirements will become part of the terms and conditions attached to licences issued to licensed aggregators and gold buyers.

All aggregators and licensed buyers are therefore required to ensure strict compliance with the notice from September 1, 2026.

Failure to comply will constitute a breach of the applicable licence terms and conditions and may attract regulatory and enforcement measures under the Ghana Gold Board Act, 2025 (Act 1140).

GoldBod has consequently directed all licensed buyers to take the necessary steps to achieve full operational readiness before the September 1 deadline.

The Compliance Notice was issued by the Compliance Directorate of GoldBod and bears the name of the Chief Executive Officer, Samuel Gyamfi, Esq.

The new XRF requirement forms part of GoldBod’s broader efforts to standardise gold trading, strengthen accountability and improve the accuracy and consistency of gold purity assessments across the licensed buying chain.

The New Patriotic Party (NPP) is holding a demonstration in Accra today, Thursday, August 6, 2026, under the theme “Democracy Under Attack.” The party says the protest is intended to draw attention to what it considers growing threats to Ghana’s democratic governance.

The demonstration began at the Supreme Court, where party leaders are expected to submit a petition to the Judiciary before embarking on a peaceful procession.

According to the NPP, the petition raises concerns over recent judicial decisions and calls for stronger safeguards to protect judicial independence and uphold the rule of law.

After presenting the petition, participants are scheduled to march through major streets in the capital before continuing to the Jubilee House.

The party maintains that the demonstration seeks to highlight what it describes as efforts to suppress dissent and weaken the country’s democratic institutions.

Organisers have accused the government of engaging in actions they believe undermine democratic principles. Among their concerns are the alleged arrest of opposition figures, restrictions on freedom of expression, and what they describe as selective justice.

They argue that a healthy democracy requires governments to tolerate criticism, protect citizens’ rights regardless of political affiliation, and preserve the independence of state institutions.

The NPP is therefore calling for equal treatment before the law and urging authorities to uphold democratic values, safeguard judicial independence, and ensure respect for the rule of law.

 The NPP says the demonstration is aimed at protecting civil liberties and defending the rule of law.

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President Mahama Arrives in Jamaica for Historic State Visit to Deepen Ghana-Caribbean Relations

President John Dramani Mahama has arrived in Kingston, Jamaica, to begin a four-day official state visit aimed at strengthening the historic bonds between Ghana and Jamaica, deepening cooperation between Africa and the Caribbean, and advancing the global reparations agenda.

The President’s aircraft touched down at the Norman Manley International Airport on Sunday night, where he was received with official honours by a high-level Jamaican delegation led by Ambassador Sandra Grant Griffiths, Chief of State Protocol at the Office of the Prime Minister, and Ghana’s High Commissioner to Jamaica, H.E. Kofi Attor.

The official welcome included Jamaica’s Minister of Foreign Affairs and Foreign Trade, Senator the Honourable Kamina Johnson Smith; Jamaica’s Non-Resident High Commissioner to Ghana, H.E. Lincoln Downer; Under-Secretaries Ambassador Symone Betton-Nayo and Ambassador Franz Hall; as well as Dr. Janice Miller, Medical Director at the Ministry of Health and Wellness.

President Mahama was accompanied by a high-powered Ghanaian delegation comprising Minister for Foreign Affairs, Hon. Samuel Okudzeto Ablakwa; Deputy Minister for Defence, Hon. Ernest Brogya Genfi; Special Aide and Presidential Advisor to President Joyce Bawa Mogtari.

The landmark visit, which runs from August 2 to August 5, 2026, is expected to further consolidate the longstanding diplomatic, cultural and economic relationship between Ghana and Jamaica while expanding cooperation between Ghana and the Caribbean Community (CARICOM). It also follows Ghana’s recent humanitarian assistance to Jamaica after a devastating natural disaster, reaffirming Ghana’s commitment to supporting its Caribbean partners during times of crisis and recovery.

A major highlight of the visit will be President Mahama’s participation in a high-level Reparations Dialogue at the University of the West Indies (UWI), Mona Campus. He will join Sir Hilary Beckles, Vice-Chancellor of UWI and Chairman of the CARICOM Reparations Commission, in discussions aimed at advancing the campaign for reparations for the transatlantic slave trade and addressing its enduring impact on African and Caribbean peoples.

In recognition of the shared Pan-African heritage between the two nations, President Mahama will lay a wreath at the shrine of Jamaica’s National Hero, The Right Honourable Marcus Mosiah Garvey, at the National Heroes Park. He will also visit Seville Heritage Park in St. Ann to tour the preserved Ghanaian Village Houses, a powerful symbol of the enduring historical and ancestral ties linking Ghana and Jamaica.

The President is also expected to hold high-level bilateral talks with Jamaican officials at the Office of the Prime Minister, focusing on expanding trade, investment, cultural exchange and broader South-South cooperation.

As part of his official engagements, he will address a joint sitting of Jamaica’s Houses of Parliament at the George William Gordon House, where he is expected to outline a bold vision for a stronger strategic partnership between Africa and the Caribbean.

His itinerary also includes a Trade and Investment Dialogue, a tour of the Kingston Freeport hosted by the Port Authority of Jamaica, a courtesy call on Opposition Leader Mark Golding, participation in the “Mello-Go-Roun” cultural celebrations marking Jamaica’s 64th Independence Anniversary, and a State Dinner hosted in his honour by Governor-General Sir Patrick Allen and Lady Allen at King’s House.

ECG financial irregularities have been uncovered by the Auditor-General, with the Electricity Company of Ghana (ECG) found to have overspent its approved budget by GH¢168.169 million in the 2023 financial year without obtaining the required approval from its Board of Directors.

The findings are contained in the Auditor-General’s report on ECG’s 2023 financial statements and were disclosed during the Public Accounts Committee (PAC) sitting of Parliament.

According to the report, ECG management exceeded approved budget allocations across several expenditure areas, raising concerns about the company’s financial controls and compliance with internal approval procedures.

PAC Ranking Member, Samuel Atta Mills, said the audit revealed that ECG spent GH¢273.6 million on 11 major expenditure items, despite having an approved budget of GH¢105.431 million.

The Auditor-General noted that the additional spending was undertaken without the necessary authorisation from the company’s Board of Directors.

Breakdown of ECG’s Budget Overruns

The report highlighted the following excess expenditures:

Foreign Training

• Approved budget: GH¢31 million
• Actual expenditure: GH¢91 million
• Excess spending: GH¢60 million

Cleaning Expenses

• Approved budget: GH¢2.8 million
• Actual expenditure: GH¢10.4 million
• Excess spending: GH¢7.6 million

Honorarium Expenses

• Approved budget: GH¢3.8 million
• Actual expenditure: GH¢4.6 million
• Excess spending: GH¢800,000

Hotel Expenses

• Approved budget: GH¢9.3 million
• Actual expenditure: GH¢12.2 million
• Excess spending: GH¢2.9 million

Staff Fuel

• Approved budget: GH¢2.8 million
• Actual expenditure: GH¢3.6 million
• Excess spending: GH¢800,000

Communication Expenses

• Approved budget: GH¢4.2 million
• Actual expenditure: GH¢7.9 million
• Excess spending: GH¢3.7 million

Consultancy Services

• Approved budget: GH¢40 million
• Actual expenditure: GH¢58.6 million
• Excess spending: GH¢18.6 million

Industrial Relations

• Approved budget: GH¢2 million
• Actual expenditure: GH¢13 million
• Excess spending: GH¢11 million

Stakeholder Expenses

• Approved budget: GH¢3.1 million
• Actual expenditure: GH¢49 million
• Excess spending: GH¢45.9 million

Publicity Expenses

• Approved budget: GH¢5.7 million
• Actual expenditure: GH¢21.8 million
• Excess spending: GH¢16.1 million

Professional Fees and Subscriptions

• Approved budget: GH¢731,000
• Actual expenditure: GH¢1.5 million
• Excess spending: GH¢769,000

The revelations have renewed calls for improved financial discipline and stronger oversight mechanisms within state-owned enterprises.

Members of the Public Accounts Committee questioned why ECG management committed expenditures beyond approved limits without seeking authorisation from the company’s Board of Directors.

The Auditor-General’s report adds to growing concerns over financial irregularities among public institutions, particularly regarding budget compliance, expenditure controls, and accountability in the use of public funds.

Source:www.ghanaweb.com