Let's not destroy GoldBod, it's a viable template for Ghana's economic independence — Steve Manteaw

Co-chair of the Ghana Extractive Industries Transparency Initiative (GHEITI), Dr Steve Manteaw, has called for the protection of the Ghana Gold Board (GoldBod).

He described the statutory body as a viable model for Ghana’s economic independence.

Dr Manteaw said stakeholders should focus on improving the operations of the GoldBod rather than actions that could undermine the institution.

His comments come amid recent exchanges between the Minority in Parliament and the GoldBod over claims surrounding the financial performance of the institution and the Bank of Ghana’s Domestic Gold Purchase Programme.

In a social media post on Wednesday, August 19, Dr Manteaw said the GoldBod could play an important role in Ghana’s efforts to derive greater economic value from its gold resources.

“The GoldBod is a viable template for Ghana's economic independence. Let's contribute ideas to make it better and not destroy it,” he wrote.

There has been a public back-and-forth between Minority Leader Alexander Afenyo-Markin and GoldBod Chief Executive Officer Sammy Gyamfi over an alleged $1.7 billion loss allegedly caused by the institution.

Speaking at a Government Accountability Series on Wednesday, August 19, Sammy Gyamfi noted that GoldBod has rather recorded an operational surplus of GH¢907 million and an overall surplus of more than GH¢5.4 billion in its 2025 audited financial statements.

The GoldBod CEO has further challenged Afenyo-Markin to identify where in his referenced International Monetary Fund report the GoldBod was accused of causing the $1.7 billion loss reported under the programme.