NewzFormer Managing Director of the Precious Minerals Marketing Company (PMMC), Nana Akwasi Awuah, has defended his tenure, insisting that the company had been turned around by the end of 2024 before the establishment of its successor, the Ghana Gold Board (GoldBod). In a statement issued on Tuesday, October 13, 2026, Mr Awuah said the final financial audit reports covering PMMC’s books from 2020 to 2024 demonstrated that the company had struggled during the period but had made significant progress by the close of 2024. “It is instructive to note that the final audit reports over the years in question demonstrate a struggling PMMC which was eventually turned around by year end of 2024,” he said.
His comments follow GoldBod’s engagement with Parliament’s Public Accounts Committee, during which a report indicated that PMMC’s accounts had not been audited for the years 2020 to 2024 until the new management requested an audit in 2025. Mr Awuah disputed the impression that the audits were initiated only after the change in management, stating that he had written to the Auditor-General on September 2, 2024, to request a comprehensive audit of the company’s accounts for the five-year period. He said the process was delayed by bureaucratic challenges associated with appointing a new external auditor, adding that the Auditor-General’s team began work in September 2024 after receiving the request.
The final audit reports were subsequently concluded, signed and submitted in April and June 2025, he said. Mr Awuah also pointed to a performance audit conducted by the Auditor-General in 2023, which he described as the first of its kind at PMMC in about two decades. He maintained that the company’s turnaround by the end of 2024 established a firm foundation for GoldBod’s creation, pushing back against any suggestion that the previous management had failed to initiate the audit process.
Former Precious Minerals Marketing Company (PMMC) Managing Director, Nana Akwasi Awuah, says the Auditor-General began work on the company’s outstanding financial audits in September 2024, following a request he submitted earlier that month. His comments come after a report from GoldBod’s appearance before Parliament’s Public Accounts Committee on Tuesday, October 13, 2026, suggested that PMMC’s books and accounts for 2020 to 2024 had remained unaudited until new management requested an audit in 2025. In a statement responding to the report, Mr Awuah said he formally wrote to the Auditor-General on September 2, 2024, requesting a multi-year audit covering the period.
He added that Parliament’s Select Committee on State Enterprises subsequently wrote to the Auditor-General in support of his request. “The Auditor General accordingly put together a team that immediately commenced work in the same month of September 2024,” he said. Mr Awuah explained that the delay in completing the audits stemmed from bureaucratic challenges surrounding the appointment of a new external auditor by the Ghana Audit Service.
He insisted that the delay was not caused by management and said the final reports were completed, signed and submitted in April and June 2025. He further cited a performance audit conducted by the Auditor-General in 2023, describing it as the first of its kind at PMMC in about two decades. According to him, the audits provided a record of the company’s financial position and demonstrated the improvements made before the end of 2024.
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