The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, says the institution recorded a substantial financial surplus in 2025, dismissing claims that it incurred losses under the Gold-for-Reserves (G4R) programme.
Mr. Gyamfi said GoldBod generated more than GH₵960 million in revenue during the year, while total expenditure was kept below GH₵120 million, resulting in a surplus estimated at between GH₵700 million and GH₵800 million.
“GoldBod, even though it is not a profit-making institution, has not made any losses,” he stated, noting that the board has been operational for only eight months.
The CEO rejected assertions that losses from the G4R programme had been transferred onto GoldBod’s books, explaining that the programme is fully funded by the Bank of Ghana and reflected in the central bank’s accounts. “How can an institution that is not making losses transfer losses it has not made? Does that make sense?” he asked.
Since its establishment in April 2025, GoldBod has restructured inherited systems from the PMMC, strengthened internal controls, and enforced strict financial management.
The Auditor-General’s external audit, expected to be completed by the end of the first quarter of 2026, he said, will confirm the surplus and ensure full public disclosure.
