Lack of sector expertise contributed to GoldBod losses – Dr Adomako Kissi

Former Member of Parliament for Anyaa Sowutuom, Dr Dickson Adomako Kissi, has attributed some of the reported losses at the Ghana Gold Board (GoldBod) to what he described as a lack of sector-specific expertise in key positions.

This follows claims by Minority Leader Alexander Afenyo-Markin that the IMF had reported that GoldBod incurred losses of about US$1.7 billion, equivalent to roughly GH¢22 billion, in 2025.

Speaking on Accra-based JoyNews’ Newsfile programme on Saturday, August 22, the GoldBod CEO said the distinction between GoldBod and the Bank of Ghana is central to the discussion.

He cited the IMF’s report on Ghana’s sixth review under the Extended Credit Facility, saying it did not state that GoldBod itself had incurred a US$1.7 billion loss.

Reacting to this on Accra-based Channel One TV's Breakfast Daily show on Tuesday, August 25, the former lawmaker said both the New Patriotic Party (NPP) and the National Democratic Congress (NDC) have a history of appointing political party operatives to critical positions instead of prioritising professional expertise.

He said the relationship between the Bank of Ghana and GoldBod also raised concerns, particularly when the central bank's Governor appears to speak on behalf of the gold purchasing institution.

“When you put somebody with minimal experience in charge of Ghana's gold destiny, I think these are some of the challenges you will face. You know, we don't look for expertise in the field. We rather place party apparatchik in positions that are very critical to Ghana's development,” he said.

Dr Adomako Kissi argued that managing Ghana's gold sector requires people with significant technical and industry experience.

He said professionals with backgrounds in mining, engineering and gold trading could provide stronger expertise in managing the country's gold resources.

Dr Adomako Kissi stressed that Ghana's political parties must place greater emphasis on competence and professional experience when making appointments to strategic institutions.

He said failure to do so could continue to expose the country to avoidable challenges and financial losses.