Sammy Gyamfi Assures Ghanaians GoldBod Audit Shows No Losses

Chief Executive Officer of GoldBod, Sammy Gyamfi, has dismissed claims that the institution has recorded losses, insisting that it is on course to declare a significant surplus for the 2025 financial year.

Speaking on JoyNews’ Newfile, Mr. Gyamfi said management accounts show that the Ghana Gold Board generated about GH¢960 million in revenue in 2025, with expenditure kept below GH¢120 million.

According to him, this positions the institution to declare a surplus of between GH¢700 million and GH¢800 million, subject to auditing.

“GoldBod has not declared profit. It declares surplus. There’s a big difference between profit-making institutions and surplus-making institutions,” he explained.

Mr. Gyamfi stressed that the figures cited are unaudited, but maintained that GoldBod has complied with legal requirements under Section 42 of the Ghana Gold Board Act by publishing its quarterly financial reports on its website.

The CEO’s comments come on the back of growing political debate over the Gold-for-Reserves programme, with the International Monetary Fund reporting losses linked to artisanal and small-scale doré gold transactions under the scheme.

However, Mr. Gyamfi expressed confidence that the forthcoming audit would put the matter to rest, insisting that GoldBod’s financial position remains sound and transparent.

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