The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, says the state gold trading agency remains focused on delivering its mandate despite criticism from the Minority in Parliament over its financial performance.
His remarks come after Minority Leader Osahen Alexander Afenyo-Markin, during Thursday’s Mid-Year Budget Review debate, alleged that the Bank of Ghana’s Gold-for-Reserves programme under GoldBod had recorded losses amounting to GH¢9.6 billion.
Responding in a social media post on Friday, July 24, Mr. Gyamfi rejected the claims, describing them as false and inconsistent with GoldBod’s audited financial statements.
According to him, GoldBod posted an operational surplus of GH¢909.7 million and an overall surplus of GH¢5.44 billion for the 2025 financial year.
“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,” he stated.
Mr. Gyamfi said the figures are contained in GoldBod’s 2025 audited Annual Report and Financial Statements prepared by the Auditor-General and published on the institution’s website.
He further noted that GoldBod has continued to perform strongly despite a more than 23 percent decline in international gold prices since February this year and a reduction in the institution’s pricing incentives from about 14 percent to six percent.
According to the GoldBod CEO, the agency remains on course to achieve significant gains in gold purchases, foreign exchange generation, support for Ghana’s gold reserve accumulation, local value addition, sustainability initiatives and the attainment of its surplus target for the 2026 financial year.
Mr. Gyamfi stressed that the institution would not allow criticism to divert its attention from its core responsibilities.
“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,” he stated.
The exchange follows renewed debate over the performance of GoldBod and its role in Ghana’s gold trading and reserve accumulation efforts, with the government and the Minority presenting differing assessments of the institution’s financial position.
