Sammy Gyamfi, CEO of Ghana Gold Board (GoldBod)
Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has dismissed claims that the institution is recording losses, insisting that GoldBod remains financially strong and is on course to achieve its surplus target for the 2026 financial year.
In a statement issued on Friday, July 24, 2026, Gyamfi said GoldBod recorded an operational surplus of GH¢909.7 million and an overall surplus of GH¢5.44 billion in 2025.
According to him, the figures are contained in the GoldBod's audited 2025 Annual Report and Financial Statements, which were prepared by the Auditor-General and published on the institution's website.
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“It is an incontrovertible fact that the GoldBod declared an operational surplus of GH¢909.7 million and an overall surplus of GH¢5.44 billion for the year 2025,” he stated.
Gyamfi said the institution has continued to perform strongly despite difficult market conditions, including a significant decline in international gold prices.
He explained that GoldBod has remained on track even after international gold prices fell by more than 23 percent since February 2026 and the institution reduced its pricing incentives under its baseline programme.
“In spite of the substantial slump in international gold prices by over 23% since February this year, the significant reduction of GoldBod's pricing incentives... the GoldBod has remained on course in achieving remarkable successes relative to the volume of gold purchases, foreign exchange generation, support for gold reserve accumulation, local value addition, support for sustainability initiatives and the achievement of our surplus target for the 2026 financial year,” he explained.
The GoldBod CEO also rejected allegations by some members of the Minority Caucus in Parliament that the institution was recording losses and misusing public funds.
He urged the public to disregard what he described as false claims about GoldBod's operations.
“The media and general public are respectfully advised to treat with utmost contempt the discredited cacophony of lies being rehashed in recent times about GoldBod's operations by certain elements in the Minority Caucus in Parliament,” he said.
Responding directly to criticisms from the Minority Leader, Alexander Afenyo-Markin, Gyamfi described the allegations as baseless.
“Led by their pathetically ignorant and utterly clueless Leader, Afenyo-Markin, these Members of Parliament continue to make spurious claims to the effect that the GoldBod is recording losses and siphoning public funds,” he said.
He maintained that GoldBod would remain focused on executing its mandate despite the criticisms.
“The GoldBod remains focused on the delivery of its mandate for the benefit of Ghanaians. We will not be distracted by misguided noise. For we know that the impact of the success story of the GoldBod shall outlive the hate-driven campaign of calumny being waged by our detractors,” Gyamfi added.
1. It is an incontrovertible fact that the GoldBod declared an operational surplus of GHS909.7 million and an overall surplus of GHS5.44 billion for the year 2025.
— Sammy Gyamfi (@SammyGyamfi_) July 24, 2026
These facts are contained in the 2025 audited Annual Report and Financial Statements of the GoldBod prepared by…
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