'Afenyo-Markin sold water and electricity, yet still made losses' - GoldBod CEO

Sammy Gyamfi has fired back at Minority Leader Alexander Afenyo-Markin, challenging him to account for his own record in public office rather than linking him personally to losses cited in an IMF report.

The Chief Executive Officer of the Ghana Gold Board (GoldBod) argued that he has not recorded any losses since taking charge of the institution and should therefore not be personally blamed for the figures being discussed.

“Sammy Gyamfi has not incurred any loss. Why should you project that on me when I have not made a loss?” he questioned.

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Gyamfi turned the spotlight on Afenyo-Markin, claiming that he oversaw losses of GH¢3.3 billion at Ghana Water Limited while serving as board chairman between 2017 and 2024.

He also claimed that the Electricity Company of Ghana (ECG) recorded a loss of GH¢8.2 billion in 2024 while Afenyo-Markin served in a leadership role at the company.

He questioned why those alleged losses had not resulted in criminal action or similar sanctions against the Minority Leader.

Gyamfi argued that if Afenyo-Markin could scrutinise his management of GoldBod, then the Minority Leader should equally be prepared to have his own record in public office examined.

The GoldBod CEO rejected suggestions that his response to the Minority Leader was insulting or personal.

He said he had faced criticism from several political opponents over the years without describing them as extortionists or attacking them personally.

However, Gyamfi suggested that there were deeper issues between himself and the Minority Leader that were not known to the public.

“There are many underlying issues between Afenyo-Markin and I that you don’t know,” he said.

Gyamfi maintained that he was prepared to defend himself and his record at GoldBod whenever allegations were made against him.

In a post on X, JoyNews quoted Gyamfi as saying: “Afenyo-Markin sold water and electricity, and still made losses.”

The comment was made in response to Afenyo-Markin’s criticism of his management of GoldBod, with Gyamfi also describing the Minority Leader as an “extortionist”.

"Afenyo-Markin sold water and electricity, and still made losses"

- @SammyGyamfi_ responds to Afenyo-Markin and calls him an extortionist. #Newsfile pic.twitter.com/UYExBHCid0

— JoyNews (@JoyNewsOnTV) August 22, 2026