The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has pushed back against claims from the Minority Caucus in Parliament that the state gold-trading body is recording losses and misusing public funds.
The allegations followed the mid-year budget presentation by the Finance Minister to the House on Thursday, 23 July. Speaking after the presentation, Minority Leader Alexander Afenyo-Markin alleged that the GoldBod initiative is recording significant losses, insisting that the current administration has failed to deliver economic growth.
In a statement, Gyamfi said GoldBod recorded an operational surplus of GH¢909.7 million and an overall surplus of GH¢5.44 billion for the 2025 financial year. He said the figures are contained in GoldBod’s 2025 audited Annual Report and Financial Statements, prepared by the Auditor-General and published on the organisation’s website.
He noted that the results were achieved despite a more than 23 percent slump in international gold prices since February this year, alongside a reduction in GoldBod’s pricing incentives, with the baseline programme allocation cut from about 14 percent to 6 percent.
Notwithstanding these pressures, he said, GoldBod has continued to record gains in gold purchase volumes, foreign exchange generation, support for gold reserve accumulation, local value addition, and sustainability initiatives, and remains on course to meet its surplus target for the 2026 financial year.
Gyamfi described the Minority’s claims that GoldBod is recording losses and diverting public funds as inaccurate, and urged the media and the public to disregard them.
He maintained that GoldBod remains focused on delivering its mandate for the benefit of Ghanaians and would not be distracted by the criticism.
By: Nunoo Benjy Nii
