Accra: The Ghana Gold Board (GoldBod) recorded strong revenue growth in 2025 while reducing expenditure, despite an expanded mandate and workforce. This was disclosed in the Board's audited financial statements for the year ended December 31, 2025.
According to Ghana News Agency, the Board's non-tax revenue rose from GHS307.7 million in 2024 to GHS970.8 million in 2025, representing an increase of more than 300 percent in internally generated income within its first full year of operations. Total expenditure declined to GHS109.4 million in 2025 from GHS129.7 million in 2024, reflecting cost containment measures even as operational responsibilities widened.
The report said the transition from the defunct Precious Minerals Marketing Company (PMMC) to GoldBod resulted in expanded operational scope, including regulatory oversight and workforce growth. Staff strength increased from 114 in 2024 to 450 in 2025 to support gold aggregation, licensing, assay services, inspections, anti-smuggling enforcement, and export coordination. 'Despite the more than 290 percent increase in staff strength, the Board maintained lower expenditure compared with the previous year,' the statement said, noting this reflected institutional discipline and improved efficiency.
Officials attributed the performance to tighter expenditure controls, strategic resource allocation, and a focus on operational efficiency. The Board recorded an operational surplus of GHS909.7 million from core non-tax activities. This excludes the GHS4.55 billion government subvention provided as revolving trade capital for gold purchases, which was maintained.
The report said the Board's performance in its first year of operation demonstrated progress in implementing reforms, with improved revenue mobilisation, cost management, and a strong operational surplus.