By Magdalene Andoh
The Ghana Gold Board (GoldBod) recorded a significant improvement in operational efficiency in 2025, with a sharp rise in revenue alongside reduced expenditure, despite a major expansion in staff strength and institutional mandate.
According to the Board’s audited financial statements as of December 31, 2025, GoldBod increased its non-tax revenue from GH₵307.7 million in 2024 to GH₵970.8 million in 2025, representing more than a 300% increase in internally generated income within its first year of operations.
In contrast, total expenditure declined from GH₵129.7 million in 2024 to GH₵109.4 million in 2025, reflecting strong fiscal discipline even as the institution assumed broader responsibilities.
The performance is particularly notable given the transition from the defunct Precious Minerals Marketing Company (PMMC) to the Ghana Gold Board, which came with a substantial increase in operational scope, regulatory oversight, and workforce capacity.
While PMMC operated with a total staff strength of 114 employees in 2024, GoldBod expanded its workforce to 450 employees in 2025 to support its enhanced mandate across gold aggregation, licensing, assay services, inspections, anti-smuggling enforcement, and export coordination.
Despite the more than 290% increase in staff strength, the Board maintained lower expenditure compared to the previous year, a development analysts say reflects strong institutional discipline and efficient public sector management.
Officials attribute the performance to tighter expenditure controls, strategic resource allocation, and a deliberate focus on operational efficiency.
This enabled GoldBod to record an operational surplus of GH₵909.7 million from its core (non-tax) activities, excluding the GH₵4.55 billion government subvention provided as revolving trade capital for gold purchases, which was preserved by the organisation.
The audited report indicates that GoldBod’s ability to increase revenue, reduce costs, and deliver a strong operational surplus within its first year is emerging as a clear indicator that the institution’s reform agenda is yielding measurable financial results.
