GoldBod Recorded No Losses in 2025 — GHS960m Revenue Declared
Hilda Appiah
The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has dismissed claims that the institution recorded losses in 2025, stating that the board ended the year with revenues exceeding GHS960 million.
Speaking in response to public commentary surrounding the Gold-for-Reserves programme, Mr Gyamfi described reports of a US$214 million loss as inaccurate and misleading. He explained that GoldBod’s unaudited management accounts show strong financial performance, with total operational expenditure kept below GHS120 million throughout the year.
According to him, GoldBod, as a public entity, reports surpluses rather than profits, and based on available figures, the board is projected to post a surplus ranging between GHS 700 million and GHS 800 million for the 2025 financial year.
Mr Gyamfi further rejected suggestions that any alleged losses had been shifted onto the Bank of Ghana's books, describing such claims as illogical. He clarified that the Gold-for-Reserves programme is a central bank initiative introduced in 2022 and has always been accounted for within the Bank of Ghana’s financial records, not GoldBod’s.
Established in April 2025, GoldBod, he noted, inherited weak systems and outdated structures, which required significant institutional reforms, including the creation of new departments, policies, and operational frameworks. Despite these challenges, the board was still able to record strong financial results within its first year of operation.
Mr Gyamfi disclosed that external audits are currently ongoing, with the Auditor-General expected to finalise the process by the end of the first quarter of 2026. He assured the public that the audited financial statements would be made available once the process is completed to ensure transparency and accountability.
