Nana Akwasi Awuah, the former Managing Director of the Precious Minerals Marketing Company (PMMC), has dismissed allegations that the company suffered losses during his time in office due to its participation in the Domestic Gold Purchase Programme.
In a detailed public statement, Mr.wuah stated that there is no evidence to back claims that PMMC incurred losses in 2022, 2023, or 2024, emphasizing that the Gold for Reserve Programme did not suffer any losses during his tenure.
He described such claims as misleading and unsupported by evidence.
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He mentioned that he had the chance to set the record straight on claims that PMMC suffered losses due to its involvement in the Domestic Gold Purchase Programme.
“There was and has never been any loss associated with the Gold for Reserve Programme during my tenure.”
Mr Awuah contrasted these claims with findings by the International Monetary Fund (IMF), which reported a trading loss of about $214 million in 2025 under the Gold for Reserve programme.
He noted that the IMF also warned that the expanding scale of the programme, particularly after the establishment of GoldBod, presents significant downside risks.
He wrapped up by asking the public to separate PMMC’s performance up to 2024 from events that took place after he left office.
Source: Accra Business News
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Samuel Kwame Boadu is a Ghanaian entrepreneur, writer, and digital consultant passionate about creating impactful stories and business solutions. He is the Founder & CEO of SamBoad Business Group Ltd, a dynamic company with subsidiaries in digital marketing, logistics, publishing, and risk management.
