The Acting Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has dismissed claims by the Minority in Parliament that the institution is operating at a loss, describing the allegations as false and misleading.
The allegations were made by Minority Leader Alexander Afenyo-Markin following the presentation of the 2026 Mid-Year Budget Review by the Minister for Finance, Dr Cassiel Ato Forson, in Parliament on July 23.
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Addressing the media after the budget presentation, Mr Afenyo-Markin alleged that the GoldBod initiative was recording significant losses and argued that the current administration had failed to deliver meaningful economic growth.
In a statement responding to the claims, Mr Gyamfi said GoldBod remained financially sound and had posted strong results for the 2025 financial year.
According to him, the institution recorded an operational surplus of GH¢909.7 million and an overall surplus of GH¢5.44 billion.
He said the figures were contained in GoldBod’s audited 2025 Annual Report and Financial Statements, which were prepared by the Auditor-General and published on the organisation’s website.
Mr Gyamfi noted that the financial performance was achieved despite challenging market conditions, including a decline of more than 23 per cent in international gold prices since February this year.
He also cited a reduction in GoldBod’s pricing incentives, with the baseline programme allocation falling from approximately 14 per cent to six per cent.
Despite these developments, he said GoldBod had continued to record growth in gold purchases, foreign exchange generation, support for Ghana’s gold reserve accumulation, local value addition and sustainability initiatives.
Mr Gyamfi added that the institution remained on course to achieve its surplus target for the 2026 financial year.
He rejected the Minority’s allegations that GoldBod was incurring losses or diverting public funds, urging the public and the media to disregard what he described as inaccurate claims.
According to him, GoldBod remains focused on delivering its mandate to strengthen Ghana’s gold sector and contribute to national economic development, and will not be distracted by political criticism.
