Policy Analyst, Steve Manteaw has noted that Ghana hasn’t declared profit since the country started its domestic gold purchase programme in 2021.
He says this is a clear indication that there is something fundamentally amiss about the accounting.
He believes that the losses being propagated by minority is a clear indication that the country has been using the wrong description.
Making his point known in a social media post he said”GLAD GHANAIANS ARE SEEING THROUGH THE MACHINATIONS
We have never declared profit since we started our domestic gold purchase programme in 2021. This should tell us that there’s something fundamentally amiss about the accounting. A careful look at the supposed loss elements will tell you we’re perhaps using wrong descriptions.
For instance, how can assay fees paid by BoG to GoldBod, in respect of gold shipment, constitute part of the BoG loss? Common sense tells me it’s a cost associated with BoG’s gold exports and an income to GoldBod,” he said.
