The Chief Executive Officer (CEO) of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has dismissed allegations by the Minority in Parliament that his outfit is making losses, urging the public to “treat with utmost contempt” what he described as false claims about the institution’s operations.
In a post on social media on Friday, July 24, Mr. Gyamfi said GoldBod’s 2025 Audited Annual Report and Financial Statements, prepared by the Auditor-General, clearly show that the institution recorded an operational surplus of GHS909.7 million and an overall surplus of GHS5.44 billion in 2025.
Mr. Gyamfi further stated that despite a more than 23 percent decline in international gold prices since February this year and a reduction in GoldBod’s pricing incentives due to a reduction of baseline programme from about 14 percent to 6 percent, the institution has continued to deliver strong results.
“The GoldBod has remained on course in achieving remarkable successes 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 our surplus target for the 2026 financial year,” he added.
The GoldBod CEO accused the Minority, led by its Leader, Alexander Afenyo-Markin, of making what he described as “spurious” and misleading claims about the institution’s financial performance.
He maintained that the allegations are unfounded and advised the media and the public to disregard them.
“These ridiculous claims can only be a figment of the imaginations of these incorrigible MPs who ought to know better. Sadly, they have no interest in learning nor any regard for the truth. You take them serious at your own peril,” he continued.
Mr. Gyamfi stressed that GoldBod remains committed to executing its mandate for the benefit of Ghanaians and will not be distracted by criticisms, expressing confidence that the institution’s achievements will ultimately speak for themselves.
