Accra: 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 GHS909.7 million and an overall surplus of GHS5.44 billion in 2025.
According to Ghana Web, the figures are contained in GoldBod's audited 2025 Annual Report and Financial Statements, which were prepared by the Auditor-General and published on the institution's website. Gyamfi emphasized that it is an incontrovertible fact that GoldBod declared an operational surplus of GHS909.7 million and an overall surplus of GHS5.44 billion for the year 2025.
Gyamfi stated that 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.
He highlighted the GoldBod's achievements 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 their surplus target for the 2026 financial year, despite the challenges posed by the slump in international gold prices.
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.
Gyamfi specifically addressed criticisms from the Minority Leader, Alexander Afenyo-Markin, describing the allegations as baseless. He stated that these Members of Parliament continue to make spurious claims about GoldBod recording losses and siphoning public funds.
Despite the criticisms, Gyamfi maintained that GoldBod would remain focused on executing its mandate. He assured that the institution is dedicated to delivering its mandate for the benefit of Ghanaians and will not be distracted by misguided noise, asserting that the impact of GoldBod's success story will endure beyond the detractors' campaign of calumny.