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.
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
Disclaimer: Some content on Accra Business News may be aggregated, summarized, or edited from third-party sources for informational purposes. Images and media are used under fair use or royalty-free licenses. Accra Business News, an extension of Accra Street Journal is a subsidiary of SamBoad Publishing Ltd under SamBoad Holdings Ltd, registered in Ghana since 2014.
For concerns or inquiries, please visit our Privacy Policy or Contact Page.
📢 GET FREE JOBS + TIPS
Others are getting instant job updates and career tips on our WhatsApp Channel. Why miss out?
📲 Join SamBoad Jobs Channel Now
