GoldBod Reports GH₵960m Profit with No Losses in 2025
The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has firmly dismissed claims that the institution recorded losses under the Gold-for-Reserves programme, insisting that GoldBod ended 2025 with a significant financial surplus.
Speaking on JoyNews’ Newsfile on Saturday, January 3, Mr. Gyamfi described reports suggesting a US$214 million loss as false and misleading.
According to him, GoldBod generated over GH960 million in revenue in 2025, while its total expenditure for the same period remained below GH120 million, based on unaudited figures.
He disclosed that the institution is expected to declare a conservative surplus of between GH700 million and GH800 million.
Mr. Gyamfi further noted that the Ghana Gold Board Act, particularly Section 42, mandates GoldBod to publish its quarterly financial reports, a requirement he said the institution has complied with.
Responding to claims that GoldBod may have transferred losses onto the books of the Bank of Ghana (BoG), Mr. Gyamfi rejected the assertion, questioning its logic.
He explained that the Gold-for-Reserves (G4R) programme is a Bank of Ghana initiative, introduced in 2022 and fully funded by the central bank, with its accounts historically reflected in the BoG’s books.
Mr. Gyamfi questioned the basis for attributing any alleged losses of the programme to GoldBod, noting that the institution is only eight months old.
He maintained that GoldBod has accounted for every cedi received from the Bank of Ghana, delivered gold equivalent value, and earned its approved agency fees.
Image Source: MYJOYONLINE
