Sammy Gyamfi explains how GoldBod spent GH¢28.3 million in 2025

The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has explained how the institution spent GH¢28.3 million on goods and services in 2025, with consultancy and legal services accounting for the largest share.

Appearing before Parliament’s Public Accounts Committee (PAC) on Tuesday, October 13, 2026, he provided a breakdown of the expenditure following questions about the amount reported in the institution’s audited financial statements.

According to him, GoldBod spent GH¢8.68 million on consultancy and legal services, representing about 31% of its total expenditure on goods and services.

EXPLAINER: How an unpaid GH¢10 loan could stop you from securing a GH¢200 loan

He disclosed that training, seminars and conferences cost GH¢4.06 million, while travel and transport expenses amounted to GH¢3.39 million.

The institution also spent GH¢3.13 million on insurance and licences, while printed materials and stationery cost GH¢2.46 million.

Gyamfi further revealed that board and committee expenses amounted to GH¢1.08 million. Another GH¢987,358 was spent on running official vehicles, while rentals and leases cost GH¢929,285.

Other expenses included GH¢809,783 for utilities, GH¢742,124 for repairs and maintenance, and GH¢680,642 for security services.

GoldBod also spent GH¢452,950 on postal and communication services, GH¢357,600 on public relations, GH¢200,000 on auditing and GH¢182,337 on general cleaning.

Addressing the committee, Gyamfi said the expenditure breakdown was already available to the public.

“The breakdown of the goods and services expenditure can be found on page 40 of our audited financials, which, by the way, is published on our website,” he stated.

'They stole my business idea' – Woman accuses East Legon laundry company of 'copying' her plans

He confirmed that the total expenditure was GH¢28,338,703, as reported by the Auditor-General, adding that the figures covered GoldBod’s spending on goods and services during the 2025 financial year.

DR/MA

Inside Ghana’s Abandoned Engineering Powerhouse: What Went Wrong?