The CEO of Gold Board (GoldBod), Sammy Gyamfi, has rejected claims that it recorded losses from its gold trading operations in 2025, insisting that its audited financial statements show a GH¢907 million operational surplus and an overall surplus of GH¢5.4 billion.
Speaking at the Government Accountability Series on Wednesday August 19,he accused Minority Leader Alexander Afenyo-Markin and his supporters of repeatedly misrepresenting GoldBod’s financial performance.
According to him, the claims that GoldBod made losses in 2025 had been disproved by the Board’s audited annual report and financial statements for the year ended December 31, 2025.
Mr Gyamfi said the financial statements, prepared and published following an audit by the Auditor-General, showed that GoldBod generated revenue of close to GH¢1 billion from its operations while its expenditure stood at about GH¢109 million.
The difference, he explained, resulted in an operational surplus of approximately GH¢907 million.
He further explained that the overall surplus of GH¢5.4 billion included GH¢4.5 billion in revolving seed capital that government had budgeted as equity for the newly established GoldBod.
According to Sammy Gyamfi, the funds were credited to GoldBod’s accounts around December 30, 2025, and remained available, accounting for their inclusion in the organisation’s overall financial position.
He stressed that the figures were contained in audited financial statements and were therefore not figures generated or audited internally by GoldBod.
“We don’t audit ourselves,” he said, stressing that the financial statements were subject to external scrutiny.
Mr Gyamfi further said copies of the audited report would be distributed to the media to enable journalists and other stakeholders to independently examine the figures.
He maintained that the audited accounts should settle the controversy over whether GoldBod made losses in 2025.
He also challenged critics of the institution to reconcile their claims with the findings contained in the Auditor-General’s report.
The development comes amid renewed political debate over the financial performance of GoldBod and the broader Domestic Gold Purchase Programme (DGPP), particularly following recent references to losses recorded by the Bank of Ghana under the programme.
Ghana|Atinkaonline.com|Mavis Fantevi