The Ghana Gold Board (GoldBod) has rejected claims by Asaase Radio that the institution has recorded losses of more than GHS 3 billion in its first year and called for an apology.
According to the Board, the report is false, misleading and aimed at undermining its work.
The publication by Asaase Radio titled “GoldBod may be making losses of over GHS 3 billion — Asaase News investigations” and published on 15 November suggested that GoldBod was losing funds under the new gold aggregation and export regime.
They wrote, “Checks by Asaase News indicate that GoldBod has recorded an estimated GHS 3 billion in losses within its first year of operation under the new gold aggregation and export regime.
So far, checks made suggest that GoldBod is estimated to be losing an average of GHC8,000 per ounce of gold (approximately $25,900 per kilogram). This includes the logistics cost, the assay difference and the FX fluctuation.”
Responding in a press statement dated 17 November, GoldBod strongly refuted the assertions.
“The GoldBod wishes to put on record, that the publication under reference is entirely false and deliberately contrived to undermine the successes and significant contribution of the GoldBod to the revitalization of Ghana’s economy.”
The Board further emphasized that it has not suffered any losses since its establishment.
“Contrary to the mischievous claims contained in the said publication, the GoldBod has been making significant surpluses/profit since its establishment.”
GoldBod added that its quarterly financial reports which are expected to be published on its official website soon will provide clear evidence of its performance.
The statement also urged the public to disregard the publication.
“The Ghana Gold Board urges the general public to treat this false publication by ‘Asaaseradio’ with utmost contempt”
They further called on the management of the station to, “Retract and render an unqualified apology to the general public for such misleading and unethical publication.”
