The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has challenged claims that the institution recorded a $1.7 billion loss in 2025, insisting that its audited financial statements show a significantly stronger financial position.
Mr. Gyamfi described the reported $1.7 billion loss as a “barefaced lie” and accused the opposition of repeatedly presenting the figure as an accurate reflection of GoldBod’s financial performance.
Speaking at the Government Accountability Series on Wednesday, August 19, 2026, the GoldBod CEO said the institution’s audited accounts should be the primary basis for evaluating its performance.
He specifically criticised Minority Leader Alexander Afenyo-Markin and other opposition figures for making what he said was an inaccurate claim in Parliament and through the media.
According to Mr. Gyamfi, GoldBod’s audited annual report and financial statements for the year ended December 31, 2025, tell a different story.
He said the accounts, prepared and published by the Auditor General, recorded an operational surplus of GH¢907 million and an overall surplus of GH¢5.4 billion.
“Afenyo-Markin and his followers alleged on several occasions on the floor of Parliament and the media that the Ghana Gold Board made losses in the year 2025 repeatedly. This claim is a barefaced lie which has been debunked times without number by the GoldBod,” he said.
Audited accounts dispute loss narrative
Mr. Gyamfi maintained that the audited figures provide an “incontrovertible” account of GoldBod’s financial performance and should take precedence over figures being circulated in the public domain.
He argued that the institution has consistently disputed the $1.7 billion loss claim and that the publication of its audited financial statements provides further evidence against the allegation.
“The audited annual reports and financial statements of the GoldBod for the year ended December 31, 2025, prepared and published by the Auditor General of Ghana, disclose an operational surplus of GHS907 million and an overall surplus of profits of GHS5.4 billion. This is an incontrovertible fact,” he said.
The remarks come amid a growing public debate over GoldBod’s financial performance and the cost and benefits of Ghana’s domestic gold purchasing programme.
Mr. Gyamfi said the government and GoldBod would continue to rely on audited financial records to account for the institution’s operations and respond to concerns about its financial management.
Source: www.kumasimail.com
