The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has dismissed allegations by members of the Minority Caucus in Parliament that the state-owned institution is making losses and mismanaging public funds.
In a statement issued on Friday, Mr. Gyamfi described the claims as false, insisting that GoldBod recorded strong financial performance in 2025.
According to him, GoldBod declared an operational surplus of GH¢909.7 million and an overall surplus of GH¢5.44 billion for the 2025 financial year.
He said the figures are contained in GoldBod’s 2025 audited Annual Report and Financial Statements, which were prepared by the Auditor-General and published on the institution’s official website.
Mr. Gyamfi also maintained that GoldBod has continued to perform strongly in 2026 despite challenging market conditions, including a more than 23 percent decline in international gold prices since February and a reduction in the board’s pricing incentives following the scaling down of its baseline programme implementation from about 14 percent to six percent.
He said the institution remains on course to achieve its surplus target for the 2026 financial year while recording significant gains in gold purchases, foreign exchange generation, support for Ghana’s gold reserve accumulation, local value addition and sustainability initiatives.
The GoldBod CEO further accused some members of the Minority Caucus, led by Minority Leader Alexander Afenyo-Markin, of repeatedly making what he described as false allegations that the board is recording losses and siphoning public funds.
He urged the media and the public to disregard the claims, insisting that GoldBod remains focused on delivering its statutory mandate for the benefit of Ghanaians.
The Minority Caucus has in recent weeks questioned the operations and financial management of GoldBod, alleging inefficiencies and financial irregularities. However, GoldBod has consistently rejected those allegations, maintaining that its audited financial statements reflect a financially sound institution.
Established by the GoldBod Act, the Ghana Gold Board is responsible for regulating, purchasing, assaying and exporting gold from the country’s small-scale mining sector. The institution also plays a key role in enhancing Ghana’s foreign exchange earnings, strengthening the nation’s gold reserves and promoting responsible gold trading.
Source: www.kumasimail.com
